Bryce Point Capital LLC Sells 5,627 Shares of Matador Resources Company (NYSE:MTDR)

Key Points

• Bryce Point Capital LLC has reduced its holdings in Matador Resources Company by 28.7% in the first quarter, now owning 13,998 shares valued at $715,000.
• Matador Resources has received a mix of ratings from brokerages, including being upgraded to a "strong-buy" by TD Cowen and having an average target price of $68.27.
• The company announced a quarterly dividend of $0.3125 per share, translating to an annualized yield of 2.46%, along with a share buyback plan of $400 million.

Bryce Point Capital LLC cut its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,998 shares of the energy company's stock after selling 5,627 shares during the period. Bryce Point Capital LLC's holdings in Matador Resources were worth $715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC raised its holdings in Matador Resources by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 7,768 shares of the energy company's stock worth $437,000 after acquiring an additional 604 shares during the last quarter. Sei Investments Co. raised its position in Matador Resources by 43.2% in the 4th quarter. Sei Investments Co. now owns 131,136 shares of the energy company's stock worth $7,378,000 after purchasing an additional 39,550 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Matador Resources during the fourth quarter worth approximately $1,367,000. Vanguard Group Inc. grew its holdings in Matador Resources by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock worth $706,375,000 after purchasing an additional 187,633 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Matador Resources during the fourth quarter worth $440,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Trading Down 0.2%

Shares of NYSE MTDR traded down $0.12 during trading on Tuesday, hitting $52.44. 1,557,999 shares of the company traded hands, compared to its average volume of 1,718,149. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $6.56 billion, a P/E ratio of 7.68 and a beta of 1.46. The company has a 50-day moving average price of $48.55 and a 200-day moving average price of $49.31.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating 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%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener purchased 750 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the purchase, the executive vice president owned 111,197 shares of the company's stock, valued at approximately $4,458,999.70. The trade was a 0.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Van H. Singleton II purchased 1,000 shares of the stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $40.72 per share, with a total value of $40,720.00. Following the acquisition, the insider owned 291,135 shares in the company, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 8,850 shares of company stock valued at $355,273. 5.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. UBS Group raised their price objective on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. KeyCorp raised their price objective 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. Stephens lowered their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.27.

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.