GW&K Investment Management LLC Has $89.50 Million Holdings in Matador Resources Company (NYSE:MTDR)

GW&K Investment Management LLC cut its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,751,829 shares of the energy company's stock after selling 16,156 shares during the quarter. Matador Resources comprises approximately 0.8% of GW&K Investment Management LLC's holdings, making the stock its 18th largest position. GW&K Investment Management LLC owned about 1.40% of Matador Resources worth $89,501,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its stake in shares of Matador Resources by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock worth $2,835,000 after buying an additional 244 shares during the last quarter. State of Wyoming lifted its stake in shares of Matador Resources by 11.6% in the fourth quarter. State of Wyoming now owns 2,772 shares of the energy company's stock worth $156,000 after buying an additional 288 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Matador Resources by 1.1% in the first quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock worth $1,420,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Matador Resources by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock worth $1,660,000 after acquiring an additional 300 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Matador Resources by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock worth $555,000 after acquiring an additional 340 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTDR has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday. Stephens dropped their target price 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. Morgan Stanley dropped their target price on shares of 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. UBS Group boosted their target price on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company dropped 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 report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.25.

Insiders Place Their Bets

In other Matador Resources news, EVP William Thomas Elsener bought 750 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $40.10 per share, with a total value of $30,075.00. Following the purchase, the executive vice president owned 111,197 shares in the company, valued at $4,458,999.70. This trade represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher P. Calvert bought 1,500 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $41.13 per share, with a total value of $61,695.00. Following the completion of the purchase, the chief operating officer owned 36,500 shares in the company, valued at $1,501,245. This represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 14,850 shares of company stock worth $601,103 over the last ninety days. Company insiders own 5.80% of the company's stock.

Matador Resources Price Performance

Shares of MTDR traded down $0.35 during trading hours on Thursday, hitting $49.98. The stock had a trading volume of 1,567,453 shares, compared to its average volume of 1,710,193. The company's fifty day moving average is $48.13 and its two-hundred day moving average is $49.63. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 7.32 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.79 and a quick ratio of 0.76. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last released its 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 16.78%. The company had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same period in the prior year, the company posted $2.05 EPS. The company's revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.50%. Matador Resources's dividend payout ratio is 18.30%.

Matador Resources declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership 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.