South Dakota Investment Council Has $14.96 Million Stock Holdings in Matador Resources Company (NYSE:MTDR)

South Dakota Investment Council lifted its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 292,809 shares of the energy company's stock after buying an additional 30,887 shares during the period. South Dakota Investment Council owned about 0.23% of Matador Resources worth $14,960,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Matador Resources during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after buying an additional 256 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Matador Resources in the first quarter valued at about $28,000. Rakuten Securities Inc. grew its position in shares of Matador Resources by 9,090.9% in the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,000 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Matador Resources in the fourth quarter worth about $68,000. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTDR. JPMorgan Chase & Co. dropped their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. KeyCorp lowered their price target on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho reduced their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley reduced their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company reduced their price target on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Matador Resources presently has a consensus rating of "Moderate Buy" and an average target price of $69.13.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener purchased 750 shares of the company's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the transaction, the executive vice president owned 111,197 shares in the company, valued at $4,458,999.70. The trade was a 0.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Van H. Singleton II acquired 1,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $40.72 per share, for a total transaction of $40,720.00. Following the acquisition, the insider owned 291,135 shares in the company, valued at approximately $11,855,017.20. This trade represents a 0.34% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 14,850 shares of company stock valued at $601,103 in the last quarter. 5.80% of the stock is owned by company insiders.

Matador Resources Stock Down 0.8%

Shares of MTDR stock traded down $0.43 during mid-day trading on Friday, reaching $51.33. 1,933,233 shares of the company were exchanged, compared to its average volume of 1,567,874. The company has a market capitalization of $6.43 billion, a P/E ratio of 6.89 and a beta of 1.46. The business's 50 day simple moving average is $47.85 and its 200 day simple moving average is $49.74. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.26.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company's revenue for the quarter was up 28.7% compared to the same quarter last year. Research analysts predict that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm 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 $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Matador Resources declared that its Board of Directors has authorized a share repurchase plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.