Legacy Wealth Management LLC MS Has $1.37 Million Position in Matador Resources Company $MTDR

Key Points

• Legacy Wealth Management reduced its holdings in Matador Resources by 49.7% during the second quarter, bringing its position to $1.37 million worth of shares.
• CEO Joseph Wm Foran bought 2,000 shares at an average price of $46.25, increasing his ownership by 30.28%.
• Matador Resources recently announced a quarterly dividend of $0.3125 per share, representing an annual yield of 2.6%.

Legacy Wealth Management LLC MS reduced its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 49.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,625 shares of the energy company's stock after selling 28,330 shares during the period. Legacy Wealth Management LLC MS's holdings in Matador Resources were worth $1,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Matador Resources in the 1st quarter valued at $5,881,000. Geneos Wealth Management Inc. boosted its holdings in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after buying an additional 690 shares during the last quarter. Integrity Alliance LLC. boosted its holdings in shares of Matador Resources by 17.0% in the 1st quarter. Integrity Alliance LLC. now owns 6,552 shares of the energy company's stock valued at $335,000 after buying an additional 953 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Matador Resources by 35.6% in the 1st quarter. Bayforest Capital Ltd now owns 1,858 shares of the energy company's stock valued at $95,000 after buying an additional 488 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $383,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $46.25 per share, with a total value of $92,500.00. Following the completion of the acquisition, the chief executive officer owned 8,606 shares of the company's stock, valued at $398,027.50. This represents a 30.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company's stock.

Matador Resources Trading Down 1.8%

Shares of Matador Resources stock opened at $47.72 on Friday. The business has a fifty day simple moving average of $49.23 and a two-hundred day simple moving average of $46.94. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 6.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.24. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The business had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. During the same quarter last year, the firm posted $2.05 EPS. The company'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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Raymond James Financial increased their price objective on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. KeyCorp cut their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Wells Fargo & Company cut their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Bank of America assumed coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective for the company. Finally, UBS Group cut their price objective on Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.53.

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.

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