James Investment Research Inc. Trims Stake in Matador Resources Company (NYSE:MTDR)

James Investment Research Inc. cut its position in Matador Resources Company (NYSE:MTDR - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,957 shares of the energy company's stock after selling 5,028 shares during the quarter. James Investment Research Inc.'s holdings in Matador Resources were worth $2,859,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Matador Resources by 48.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,982 shares of the energy company's stock valued at $1,743,000 after buying an additional 10,139 shares during the period. HighTower Advisors LLC grew its stake in Matador Resources by 8.4% in the fourth quarter. HighTower Advisors LLC now owns 7,768 shares of the energy company's stock valued at $437,000 after acquiring an additional 604 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Matador Resources in the fourth quarter valued at approximately $519,000. EverSource Wealth Advisors LLC grew its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after acquiring an additional 256 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new stake in Matador Resources in the fourth quarter valued at approximately $515,000. 91.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Bank of America assumed coverage on Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective for the company. Mizuho reduced their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. KeyCorp reduced their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, TD Cowen upgraded Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Two 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 company's stock. According to MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and an average target price of $69.13.

Insider Transactions at Matador Resources

In related news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the completion of the transaction, the executive vice president owned 93,180 shares in the company, valued at $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher P. Calvert purchased 1,500 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $41.13 per share, with a total value of $61,695.00. Following the completion of the transaction, the chief operating officer owned 36,500 shares of the company's stock, valued at $1,501,245. This represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 14,850 shares of company stock valued at $601,103. 5.80% of the stock is currently owned by insiders.

Matador Resources Stock Performance

Matador Resources stock traded up $1.66 during mid-day trading on Thursday, reaching $51.75. 1,818,038 shares of the company's stock were exchanged, compared to its average volume of 1,567,540. The business's fifty day simple moving average is $47.50 and its 200 day simple moving average is $49.85. The firm has a market capitalization of $6.48 billion, a PE ratio of 6.95 and a beta of 1.46. Matador Resources Company has a one year low of $35.19 and a one year high of $66.89. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56.

Matador Resources (NYSE:MTDR - Get Free Report) last issued 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. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. Matador Resources's quarterly revenue was up 28.7% compared to the same quarter last year. During the same period last year, the company posted $1.71 earnings per share. On average, sell-side analysts expect that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company 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 $0.3125 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.42%. Matador Resources's payout ratio is presently 16.78%.

Matador Resources declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board 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.