Homestead Advisers Corp Has $2.23 Million Stock Holdings in Matador Resources Company (NYSE:MTDR)

Homestead Advisers Corp decreased its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 43,600 shares of the energy company's stock after selling 5,100 shares during the quarter. Homestead Advisers Corp's holdings in Matador Resources were worth $2,228,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new position in shares of Matador Resources during the 1st quarter worth about $263,000. GAMMA Investing LLC increased its holdings in shares of Matador Resources by 42.8% during the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after purchasing an additional 809 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Matador Resources during the 1st quarter worth about $885,000. Delphi Management Inc. MA increased its holdings in shares of Matador Resources by 118.6% during the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock worth $1,190,000 after purchasing an additional 12,642 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Matador Resources during the 1st quarter worth about $200,000. Institutional investors own 91.98% of the company's stock.

Matador Resources Price Performance

NYSE:MTDR traded up $0.58 on Friday, reaching $51.23. The stock had a trading volume of 637,944 shares, compared to its average volume of 1,713,458. The company has a market capitalization of $6.41 billion, a P/E ratio of 7.50 and a beta of 1.46. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $48.26 and a 200-day moving average price of $49.58.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $892.86 million. During the same period in the prior year, the business earned $2.05 earnings per share. Matador Resources's quarterly revenue was up 8.2% on a year-over-year basis. Research analysts forecast 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 will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. 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 2.44%. Matador Resources's payout ratio is 18.30%.

Matador Resources declared that its Board of Directors has initiated a share buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTDR. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. KeyCorp lifted their target price on shares of Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday. Stephens decreased 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. JPMorgan Chase & Co. decreased their target price on shares of 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 decreased 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. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Matador Resources has an average rating of "Moderate Buy" and a consensus price target of $69.25.

Insider Activity at Matador Resources

In related news, insider Van H. Singleton II bought 1,000 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $40.72 per share, for a total transaction of $40,720.00. Following the completion of the transaction, the insider owned 291,135 shares of the company's stock, valued at approximately $11,855,017.20. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction dated Tuesday, April 29th. The shares were bought at an average price of $40.86 per share, for a total transaction of $204,300.00. Following the completion of the transaction, the chief executive officer directly owned 50,756 shares of the company's stock, valued at $2,073,890.16. This represents a 10.93% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 14,850 shares of company stock valued at $601,103 in the last three months. 5.80% of the stock is currently owned by corporate insiders.

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.