Legacy Wealth Management LLC MS Buys 26,940 Shares of Matador Resources (NYSE:MTDR)

Legacy Wealth Management LLC MS raised its holdings in Matador Resources (NYSE:MTDR - Free Report) by 89.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,955 shares of the energy company's stock after buying an additional 26,940 shares during the quarter. Legacy Wealth Management LLC MS's holdings in Matador Resources were worth $2,910,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Matador Resources by 16.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock valued at $8,088,000 after purchasing an additional 20,172 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Matador Resources by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock valued at $83,916,000 after acquiring an additional 56,644 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Matador Resources by 49.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company's stock valued at $16,895,000 after acquiring an additional 99,711 shares in the last quarter. Shaker Investments LLC OH bought a new stake in shares of Matador Resources during the fourth quarter valued at approximately $546,000. Finally, Fisher Asset Management LLC boosted its position in shares of Matador Resources by 23.0% during the fourth quarter. Fisher Asset Management LLC now owns 785,610 shares of the energy company's stock valued at $44,198,000 after purchasing an additional 146,922 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Down 2.3%

MTDR stock traded down $1.00 during midday trading on Friday, hitting $43.04. The company's stock had a trading volume of 1,545,885 shares, compared to its average volume of 1,628,811. The company has a market cap of $5.39 billion, a PE ratio of 6.03 and a beta of 1.47. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89. The firm's 50-day moving average is $42.86 and its 200-day moving average is $51.62.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company's quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 earnings per share. On average, equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

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

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's dividend payout ratio is currently 16.78%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $48.55 per share, for a total transaction of $97,100.00. Following the purchase, the chief executive officer now directly owns 43,379 shares of the company's stock, valued at approximately $2,106,050.45. This trade represents a 4.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christopher P. Calvert acquired 1,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $49.27 per share, for a total transaction of $49,270.00. Following the purchase, the chief operating officer now directly owns 35,000 shares in the company, valued at approximately $1,724,450. This trade represents a 2.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 21,850 shares of company stock worth $931,694. Company insiders own 6.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on MTDR. Raymond James dropped their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada dropped their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Stephens dropped their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Bank of America started coverage on shares of Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 price objective on the stock. Finally, KeyCorp dropped their price objective on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.44.

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.