Russell Investments Group Ltd. Buys 41,861 Shares of Matador Resources Company $MTDR

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Matador Resources by 51.7%, owning 122,900 shares worth approximately $6.28 million as of its latest SEC filing.
• Matador Resources reported strong quarterly earnings of $1.53 per share, exceeding estimates by $0.24, with revenue up 8.2% year-over-year.
• The company announced a quarterly dividend of $0.3125 per share, reflecting an annual yield of 2.7% and a dividend payout ratio of 18.30%.

Russell Investments Group Ltd. lifted its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 51.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,900 shares of the energy company's stock after purchasing an additional 41,861 shares during the period. Russell Investments Group Ltd. owned 0.10% of Matador Resources worth $6,279,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new position in shares of Matador Resources during the 1st quarter worth about $263,000. GAMMA Investing LLC increased its stake in shares of Matador Resources by 42.8% during the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after purchasing an additional 809 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Matador Resources in the 1st quarter valued at about $885,000. Delphi Management Inc. MA grew its stake in Matador Resources by 118.6% in the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock valued at $1,190,000 after buying an additional 12,642 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in Matador Resources in the 1st quarter valued at about $200,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded up $1.9330 on Friday, reaching $48.2730. 1,222,721 shares of the company's stock were exchanged, compared to its average volume of 1,638,780. The company has a fifty day moving average of $49.40 and a 200-day moving average of $47.63. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 7.07 and a beta of 1.49. 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 (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. On average, research analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTDR. TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company decreased their price target on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. KeyCorp upped their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley upped their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, Bank of America initiated coverage on shares of Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.60.

Insider Activity

In other news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $46.25 per share, for a total transaction of $92,500.00. Following the transaction, the chief executive officer owned 8,606 shares of the company's stock, valued at approximately $398,027.50. The trade was a 30.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.80% of the company's stock.

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.