D.A. Davidson & CO. Invests $263,000 in Matador Resources Company (NYSE:MTDR)

D.A. Davidson & CO. bought a new position in Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,144 shares of the energy company's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management lifted its position in shares of Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after acquiring an additional 1,098,108 shares in the last quarter. Webs Creek Capital Management LP purchased a new stake in shares of Matador Resources in the 4th quarter valued at approximately $37,894,000. Alliancebernstein L.P. lifted its position in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after acquiring an additional 555,245 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Matador Resources in the 4th quarter valued at approximately $22,509,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Matador Resources by 101.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock valued at $41,330,000 after acquiring an additional 370,388 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on MTDR shares. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Stephens reduced their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley reduced 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 research report on Thursday, March 27th. Finally, Wells Fargo & Company reduced their price target on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.06.

Insider Transactions at Matador Resources

In related news, EVP William Thomas Elsener purchased 750 shares of Matador Resources stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $40.10 per share, with a total value of $30,075.00. Following the acquisition, the executive vice president directly owned 111,197 shares in the company, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Van H. Singleton II purchased 1,000 shares of Matador Resources stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $40.72 per share, with a total value of $40,720.00. Following the completion of the acquisition, the insider owned 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 disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,850 shares of company stock worth $601,103. 5.80% of the stock is currently owned by insiders.

Matador Resources Stock Up 0.8%

Shares of MTDR traded up $0.42 during mid-day trading on Friday, hitting $52.47. 1,528,675 shares of the company's stock were exchanged, compared to its average volume of 1,565,924. The firm has a fifty day moving average of $46.84 and a two-hundred day moving average of $49.92. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $66.89. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 7.04 and a beta of 1.46. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56.

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

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $0.3125 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.38%. Matador Resources's payout ratio is presently 16.78%.

Matador Resources announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

About Matador Resources

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.