Legacy Wealth Management LLC MS Decreases Stock Holdings 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 cut its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 49.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC purchased a new position in shares of Matador Resources in the 1st quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in Matador Resources in the first quarter valued at about $28,000. Quarry LP raised its position in Matador Resources by 70.8% in the first quarter. Quarry LP now owns 859 shares of the energy company's stock valued at $44,000 after purchasing an additional 356 shares during the period. Geneos Wealth Management Inc. raised its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after purchasing an additional 690 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Matador Resources in the first quarter valued at about $50,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Stock Down 0.6%

MTDR traded down $0.30 during trading on Thursday, hitting $47.20. The company had a trading volume of 553,061 shares, compared to its average volume of 1,671,353. 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 one year low of $35.19 and a one year high of $64.04. The firm's 50-day moving average price is $49.02 and its 200 day moving average price is $46.84. The company has a market capitalization of $5.88 billion, a PE ratio of 6.92 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. Matador Resources's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, equities analysts expect that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a dividend of $0.3125 per share. The ex-dividend date was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a yield of 2.6%. Matador Resources's payout ratio is 18.30%.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several recent analyst reports. Wells Fargo & Company lowered 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. Raymond James Financial raised their target price on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. KeyCorp lowered 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. William Blair started coverage on Matador Resources in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Finally, Morgan Stanley boosted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.27.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction dated Friday, September 12th. The stock was purchased at an average price of $48.15 per share, for a total transaction of $96,300.00. Following the completion of the purchase, the chief executive officer directly owned 8,025 shares of the company's stock, valued at approximately $386,403.75. This trade represents a 33.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Christopher P. Calvert purchased 1,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $47.77 per share, with a total value of $47,770.00. Following the purchase, the chief operating officer owned 37,500 shares in the company, valued at approximately $1,791,375. This represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 11,380 shares of company stock valued at $549,188. Company insiders own 5.80% of the company's stock.

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.