Gallacher Capital Management LLC Acquires New Holdings in Matador Resources Company $MTDR

Key Points

• Gallacher Capital Management LLC invested approximately $564,000 in Matador Resources, acquiring 11,826 shares during the second quarter.
• Matador Resources reported $1.53 EPS for the quarter, surpassing analysts' expectations of $1.29, with revenue increasing by 8.2% year-over-year to $895.31 million.
• The company announced a quarterly dividend of $0.3125 per share, translating to an annualized dividend of $1.25 and a yield of 2.6%.

Gallacher Capital Management LLC purchased a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,826 shares of the energy company's stock, valued at approximately $564,000.

Other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new stake in Matador Resources during the first quarter worth approximately $263,000. GAMMA Investing LLC raised its position in shares of Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after acquiring an additional 809 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Matador Resources in the 1st quarter valued at about $885,000. Delphi Management Inc. MA boosted its stake in Matador Resources by 118.6% during the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock valued at $1,190,000 after purchasing an additional 12,642 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Matador Resources during the 1st quarter worth approximately $200,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTDR. KeyCorp reduced their price target on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Wells Fargo & Company lowered their target price on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. UBS Group cut their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Finally, Morgan Stanley increased their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.27.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener purchased 600 shares of the stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $48.46 per share, with a total value of $29,076.00. Following the purchase, the executive vice president directly owned 112,069 shares in the company, valued at $5,430,863.74. The trade was a 0.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph Wm Foran purchased 5,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was bought at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the purchase, the chief executive officer owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This represents a 311.33% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,380 shares of company stock worth $549,188 in the last ninety days. 5.80% of the stock is currently owned by insiders.

Matador Resources Stock Down 3.9%

Shares of NYSE MTDR traded down $1.85 during trading on Friday, reaching $45.48. 583,561 shares of the stock were exchanged, compared to its average volume of 1,668,336. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 6.67 and a beta of 1.49. The business's 50-day moving average price is $48.92 and its 200 day moving average price is $46.83.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 EPS. As a group, equities analysts forecast that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Matador Resources's dividend payout ratio is presently 18.30%.

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.