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

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

Matador Resources Stock Down 1.8%

MTDR stock opened at $47.72 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a 50-day moving average of $49.23 and a two-hundred day moving average of $46.86. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 6.99 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company had revenue of $895.31 million during the quarter, compared to analysts' expectations of $892.86 million. During the same period in the prior year, the company earned $2.05 earnings per share. The business's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current 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 $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is presently 18.30%.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $46.25 per share, for a total transaction of $92,500.00. Following the completion of the purchase, the chief executive officer owned 8,606 shares in the company, valued at approximately $398,027.50. This represents a 30.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Morgan Stanley upped their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Bank of America assumed coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective for the company. TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average price target of $67.53.

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.

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