CWA Asset Management Group LLC Acquires Shares of 14,076 Matador Resources Company (NYSE:MTDR)

CWA Asset Management Group LLC purchased a new position in Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,076 shares of the energy company's stock, valued at approximately $719,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Matador Resources during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after buying an additional 256 shares in the last quarter. TCTC Holdings LLC boosted its stake in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after buying an additional 175 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Matador Resources during the 1st quarter valued at approximately $28,000. Finally, SRS Capital Advisors Inc. increased its stake in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock worth $33,000 after acquiring an additional 453 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Trading Down 1.1%

NYSE MTDR traded down $0.53 during trading on Tuesday, hitting $48.53. The stock had a trading volume of 1,422,146 shares, compared to its average volume of 1,618,276. Matador Resources Company has a one year low of $35.19 and a one year high of $66.89. The stock has a 50 day simple moving average of $44.25 and a 200 day simple moving average of $50.36. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 6.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same period in the prior year, the business posted $1.71 earnings per share. The company's revenue for the quarter was up 28.7% on a year-over-year basis. Sell-side analysts predict that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Matador Resources announced that its board has authorized a stock buyback plan on Wednesday, April 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James Financial lowered their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Mizuho dropped their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. KeyCorp reduced their target price on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Morgan Stanley lowered their price target on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $69.06.

Insider Buying and Selling

In related news, insider Van H. Singleton II bought 1,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $40.72 per share, with a total value of $40,720.00. Following the transaction, the insider now owns 291,135 shares in the company, valued at approximately $11,855,017.20. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 5,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was bought at an average cost of $40.86 per share, with a total value of $204,300.00. Following the acquisition, the chief executive officer now owns 50,756 shares of the company's stock, valued at approximately $2,073,890.16. The trade was a 10.93% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 14,850 shares of company stock worth $601,103 in the last 90 days. 5.80% of the stock is owned by corporate insiders.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.