Matador Resources Company (NYSE:MTDR) Shares Bought by LSV Asset Management

Key Points

• LSV Asset Management increased its stake in Matador Resources Company by 50.9%, now owning 2,289,379 shares valued at approximately $116.96 million.
• Matador Resources announced a $400 million stock buyback plan, indicating the board's belief that its shares are undervalued.
• The company declared a quarterly dividend of $0.3125, translating to an annual yield of 2.6% for shareholders.

LSV Asset Management increased its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 50.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,289,379 shares of the energy company's stock after buying an additional 772,071 shares during the period. LSV Asset Management owned about 1.83% of Matador Resources worth $116,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MTDR. D.A. Davidson & CO. purchased a new position in Matador Resources in the first quarter valued at approximately $263,000. GAMMA Investing LLC boosted its holdings in shares of Matador Resources by 42.8% in the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock valued at $138,000 after acquiring an additional 809 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Matador Resources in the first quarter valued at approximately $885,000. Delphi Management Inc. MA boosted its holdings 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 valued at $1,190,000 after acquiring an additional 12,642 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Matador Resources in the first quarter valued at approximately $200,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Down 1.4%

MTDR stock traded down $0.65 during midday trading on Thursday, hitting $46.03. 197,400 shares of the company's stock were exchanged, compared to its average volume of 1,719,530. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The firm has a 50 day moving average price of $49.29 and a 200-day moving average price of $48.83. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 6.73 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping 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 company had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same period in the previous year, the business earned $2.05 EPS. Matador Resources's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources declared that its Board of Directors has initiated a share buyback program on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Matador Resources Announces Dividend

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

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the acquisition, the chief executive officer owned 6,606 shares of the company's stock, valued at $324,817.02. The trade was a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MTDR shares. TD Cowen raised Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Raymond James Financial increased their price target on Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. reduced their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company reduced their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Finally, Mizuho reduced their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

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.