Ontario Teachers Pension Plan Board Lowers Stock Holdings in Matador Resources Company (NYSE:MTDR)

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in Matador Resources by 37.0%, now holding a total of 10,207 shares valued at approximately $521,000.
• Vanguard Group Inc. increased its holdings by 7.6%, owning over 13.5 million shares worth around $690 million after purchasing additional shares recently.
• Matador Resources declared a quarterly dividend of $0.3125 per share, representing an annualized dividend yield of 2.7%, and announced a $400 million share repurchase plan.

Ontario Teachers Pension Plan Board trimmed its position in Matador Resources Company (NYSE:MTDR - Free Report) by 37.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,207 shares of the energy company's stock after selling 5,995 shares during the period. Ontario Teachers Pension Plan Board's holdings in Matador Resources were worth $521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after purchasing an additional 956,090 shares during the period. LSV Asset Management raised its stake in Matador Resources by 50.9% during the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock valued at $116,964,000 after purchasing an additional 772,071 shares during the period. Webs Creek Capital Management LP bought a new stake in Matador Resources during the 4th quarter valued at approximately $37,894,000. Raymond James Financial Inc. bought a new stake in Matador Resources during the 4th quarter valued at approximately $22,509,000. Finally, Balyasny Asset Management L.P. raised its stake in Matador Resources by 101.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock valued at $41,330,000 after purchasing an additional 370,388 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matador Resources

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

Matador Resources Stock Up 1.1%

Shares of MTDR stock traded up $0.52 during mid-day trading on Wednesday, hitting $47.97. 1,242,981 shares of the stock traded hands, compared to its average volume of 1,725,916. The stock has a market cap of $5.97 billion, a P/E ratio of 7.02 and a beta of 1.49. The stock's fifty day moving average is $49.49 and its two-hundred day moving average is $48.29. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. 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 approved a share repurchase program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Matador Resources Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's dividend payout ratio is currently 18.30%.

Analyst Upgrades and Downgrades

MTDR has been the topic of several recent analyst reports. Stephens decreased their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. UBS Group lifted their price objective on Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company reduced their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Raymond James Financial lifted their price objective on Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Two 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 stock. According to MarketBeat, Matador Resources 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.