Jupiter Asset Management Ltd. Purchases Shares of 6,205 Matador Resources Company (NYSE:MTDR)

Key Points

• Jupiter Asset Management Ltd. acquired 6,205 shares of Matador Resources Company, valued at around $317,000, as part of their new position reported in a recent SEC filing.
• CEO Joseph Wm Foran bought 5,000 shares of the company at $49.17 each, increasing his stake by 311.33% and bringing his total shares to 6,606.
• Matador Resources announced a quarterly dividend of $0.3125 per share, with a yield of 2.6%, and has authorized a $400 million share repurchase plan indicating confidence in its stock value.

Jupiter Asset Management Ltd. purchased a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,205 shares of the energy company's stock, valued at approximately $317,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. bought a new stake in shares of Matador Resources during the first quarter worth $263,000. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 809 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Matador Resources in the 1st quarter valued at about $885,000. Delphi Management Inc. MA raised 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 during the first quarter worth approximately $200,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Trading Up 0.9%

Matador Resources stock traded up $0.41 during midday trading on Friday, hitting $46.49. 539,627 shares of the stock were exchanged, compared to its average volume of 1,722,823. The stock has a market capitalization of $5.79 billion, a PE ratio of 6.81 and a beta of 1.49. The company has a fifty day simple moving average of $49.33 and a two-hundred day simple moving average of $48.71. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. 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 posted its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate 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 last year, the business posted $2.05 earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources declared that its board 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 buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio is 18.30%.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran acquired 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $49.17 per share, for a total transaction of $245,850.00. Following the acquisition, the chief executive officer directly owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This trade represents a 311.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

MTDR has been the subject of a number of research reports. Raymond James Financial raised their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada cut their price target on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Mizuho lowered their price objective 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. Finally, KeyCorp upped 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, July 24th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $68.00.

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.