GW&K Investment Management LLC Decreases Stock Position 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% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,751,829 shares of the energy company's stock after selling 16,156 shares during the period. Matador Resources comprises about 0.8% of GW&K Investment Management LLC's holdings, making the stock its 18th largest position. GW&K Investment Management LLC owned 1.40% of Matador Resources worth $89,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTDR. Allianz Asset Management GmbH boosted its holdings in Matador Resources by 71.7% in the 1st quarter. Allianz Asset Management GmbH now owns 10,300 shares of the energy company's stock valued at $526,000 after purchasing an additional 4,300 shares in the last quarter. Peterson Wealth Services raised its holdings in Matador Resources by 61.5% in the 1st quarter. Peterson Wealth Services now owns 60,125 shares of the energy company's stock valued at $3,072,000 after acquiring an additional 22,889 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Matador Resources by 2.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 71,950 shares of the energy company's stock valued at $3,676,000 after acquiring an additional 1,619 shares during the last quarter. South Dakota Investment Council increased its holdings in shares of Matador Resources by 11.8% during the 1st quarter. South Dakota Investment Council now owns 292,809 shares of the energy company's stock worth $14,960,000 after buying an additional 30,887 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Matador Resources by 1.9% during the 1st quarter. Private Advisor Group LLC now owns 49,457 shares of the energy company's stock worth $2,527,000 after buying an additional 932 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Trading Down 0.8%

Shares of MTDR opened at $51.33 on Monday. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.26. The firm has a market capitalization of $6.43 billion, a P/E ratio of 6.89 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The stock's fifty day simple moving average is $47.85 and its 200 day simple moving average is $49.69.

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

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

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is currently 16.78%.

Insiders Place Their Bets

In other news, insider Van H. Singleton II bought 1,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $40.72 per share, with a total value of $40,720.00. Following the transaction, the insider directly owned 291,135 shares in the company, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 2,500 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $39.63 per share, for a total transaction of $99,075.00. Following the completion of the acquisition, the chief executive officer directly owned 60,756 shares of the company's stock, valued at approximately $2,407,760.28. This represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 14,850 shares of company stock worth $601,103 in the last 90 days. 5.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MTDR shares. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. UBS Group raised their price target on shares of Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday. Mizuho cut their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley decreased their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Finally, Wells Fargo & Company decreased their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.13.

Matador Resources 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.

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