MetLife Investment Management LLC Acquires 201,834 Shares of Matador Resources Company $MTDR

Key Points

• MetLife Investment Management LLC increased its stake in Matador Resources by 306.6%, owning 267,666 shares valued at approximately $13.7 million.
• Several hedge funds also raised their holdings, including Vanguard Group which lifted its investment by 7.6%, now owning over 13.5 million shares.
• Matador Resources recently reported earnings of $1.53 per share for the last quarter, exceeding estimates and indicating an 8.2% increase in revenue year-over-year.

MetLife Investment Management LLC boosted its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 306.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 267,666 shares of the energy company's stock after buying an additional 201,834 shares during the period. MetLife Investment Management LLC owned approximately 0.21% of Matador Resources worth $13,675,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MTDR. Smartleaf Asset Management LLC lifted its stake in Matador Resources by 161.3% during the first quarter. Smartleaf Asset Management LLC now owns 3,596 shares of the energy company's stock worth $182,000 after purchasing an additional 2,220 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Matador Resources by 8.6% in the first quarter. Kestra Advisory Services LLC now owns 54,314 shares of the energy company's stock worth $2,775,000 after buying an additional 4,294 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Matador Resources in the first quarter worth about $50,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Matador Resources by 3.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 16,170 shares of the energy company's stock worth $826,000 after buying an additional 515 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Matador Resources by 30.5% in the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock worth $104,413,000 after buying an additional 477,236 shares during the period. Institutional investors own 91.98% of the company's stock.

Matador Resources Stock Up 0.6%

Shares of MTDR stock traded up $0.28 during midday trading on Thursday, reaching $50.17. 1,123,899 shares of the stock were exchanged, compared to its average volume of 1,604,397. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The company's 50 day moving average is $49.29 and its two-hundred day moving average is $47.48. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The firm has a market cap of $6.25 billion, a PE ratio of 7.35 and a beta of 1.49.

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 analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The firm had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same quarter in the prior year, the business earned $2.05 EPS. The business's revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's payout ratio is currently 18.30%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $46.25 per share, with a total value of $92,500.00. Following the transaction, the chief executive officer directly owned 8,606 shares in the company, valued at $398,027.50. This trade represents a 30.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MTDR has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. William Blair assumed coverage on Matador Resources in a report on Monday. They issued an "outperform" rating on the stock. Bank of America assumed coverage on Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. Mizuho reduced their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, KeyCorp boosted their price target on Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.60.

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.