Matador Resources Company (NYSE:MTDR) Shares Bought by South Dakota Investment Council

South Dakota Investment Council boosted its position in Matador Resources Company (NYSE:MTDR - Free Report) by 11.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.23% of Matador Resources worth $14,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Matador Resources by 1.5% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Matador Resources by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock worth $306,313,000 after purchasing an additional 30,184 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock worth $151,824,000 after purchasing an additional 555,245 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Matador Resources by 18.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock worth $93,952,000 after buying an additional 258,958 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after buying an additional 1,098,108 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Insider Activity

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average cost of $41.53 per share, with a total value of $41,530.00. Following the completion of the acquisition, the executive vice president directly owned 93,180 shares of the company's stock, valued at $3,869,765.40. This represents a 1.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 5,000 shares of Matador Resources stock in a transaction on Tuesday, April 29th. The shares were purchased at an average cost of $40.86 per share, with a total value of $204,300.00. Following the transaction, the chief executive officer owned 50,756 shares in the company, valued at approximately $2,073,890.16. The trade was a 10.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 14,850 shares of company stock worth $601,103 over the last ninety days. Insiders own 5.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MTDR. KeyCorp cut their target price on Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Stephens dropped their price objective 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. Mizuho dropped their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada dropped their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Matador Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.13.

Matador Resources Stock Performance

Shares of MTDR traded up $0.81 on Tuesday, reaching $50.67. 765,995 shares of the company's stock traded hands, compared to its average volume of 1,569,164. The stock has a market cap of $6.34 billion, a PE ratio of 6.79 and a beta of 1.46. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.26. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The stock's 50 day simple moving average is $47.85 and its two-hundred day simple moving average is $49.69.

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

Matador Resources announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Matador Resources Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's payout ratio is currently 16.78%.

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.