Delphi Management Inc. MA Buys 12,642 Shares of Matador Resources (NYSE:MTDR)

Delphi Management Inc. MA lifted its stake in Matador Resources (NYSE:MTDR - Free Report) by 118.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,302 shares of the energy company's stock after purchasing an additional 12,642 shares during the period. Delphi Management Inc. MA's holdings in Matador Resources were worth $1,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTDR. GAMMA Investing LLC increased its position in shares of Matador Resources by 7,197.0% during the first quarter. GAMMA Investing LLC now owns 137,841 shares of the energy company's stock worth $7,042,000 after acquiring an additional 135,952 shares during the period. Legacy Wealth Management LLC MS grew its holdings in Matador Resources by 89.8% in the first quarter. Legacy Wealth Management LLC MS now owns 56,955 shares of the energy company's stock worth $2,910,000 after purchasing an additional 26,940 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Matador Resources by 118.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,012 shares of the energy company's stock worth $1,295,000 after buying an additional 12,495 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Matador Resources during the fourth quarter valued at $7,529,000. Finally, American Trust raised its stake in shares of Matador Resources by 11.5% during the 4th quarter. American Trust now owns 6,280 shares of the energy company's stock valued at $353,000 after buying an additional 650 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTDR. Bank of America began coverage on Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 target price on the stock. Stephens reduced their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Mizuho cut their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley cut their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Matador Resources has an average rating of "Moderate Buy" and an average target price of $69.44.

Insider Transactions at Matador Resources

In other news, Director Timothy E. Parker bought 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the purchase, the director now directly owns 83,790 shares of the company's stock, valued at $3,742,899.30. This trade represents a 2.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Thomas Elsener bought 750 shares of the stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the purchase, the executive vice president now directly owns 111,197 shares of the company's stock, valued at approximately $4,458,999.70. This represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 18,850 shares of company stock valued at $785,324 over the last three months. Company insiders own 6.10% of the company's stock.

Matador Resources Stock Performance

Shares of NYSE MTDR traded up $0.50 during trading on Monday, reaching $43.51. The stock had a trading volume of 1,681,405 shares, compared to its average volume of 1,629,910. Matador Resources has a one year low of $35.19 and a one year high of $66.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a market cap of $5.45 billion, a PE ratio of 6.09 and a beta of 1.47. The firm's 50 day moving average price is $42.86 and its two-hundred day moving average price is $51.52.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. During the same quarter in the previous year, the firm posted $1.71 EPS. The business's revenue for the quarter was up 28.7% compared to the same quarter last year. On average, research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, May 9th. Matador Resources's dividend payout ratio is presently 16.78%.

Matador Resources announced that its board has initiated a stock repurchase program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.