15,968 Shares in Matador Resources (NYSE:MTDR) Acquired by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC acquired a new stake in Matador Resources (NYSE:MTDR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,968 shares of the energy company's stock, valued at approximately $816,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MTDR. Allspring Global Investments Holdings LLC boosted its stake in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock worth $8,088,000 after buying an additional 20,172 shares during the last quarter. Delphi Management Inc. MA boosted its stake in Matador Resources by 118.6% during the first quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock worth $1,190,000 after buying an additional 12,642 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Matador Resources by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock valued at $83,916,000 after purchasing an additional 56,644 shares during the period. Envestnet Asset Management Inc. raised its position in Matador Resources by 49.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company's stock valued at $16,895,000 after purchasing an additional 99,711 shares during the period. Finally, Shaker Investments LLC OH purchased a new stake in Matador Resources during the 4th quarter worth about $546,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Up 0.5%

Matador Resources stock traded up $0.24 during mid-day trading on Thursday, hitting $45.25. 409,564 shares of the company's stock were exchanged, compared to its average volume of 1,694,558. The stock has a market cap of $5.67 billion, a P/E ratio of 6.34 and a beta of 1.47. The stock has a 50 day moving average of $42.46 and a two-hundred day moving average of $51.34. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

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, beating the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm's revenue was up 28.7% compared to the same quarter last year. During the same period last year, the business posted $1.71 earnings per share. As a group, analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources declared that its board has authorized a stock repurchase program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in 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 generally a sign that the company's board of directors believes its stock is undervalued.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's dividend payout ratio is currently 16.78%.

Insider Activity

In other Matador Resources news, COO Christopher P. Calvert purchased 1,500 shares of the business's stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $41.13 per share, for a total transaction of $61,695.00. Following the completion of the purchase, the chief operating officer now directly owns 36,500 shares in the company, valued at approximately $1,501,245. This trade represents a 4.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were acquired at an average price of $41.53 per share, with a total value of $41,530.00. Following the purchase, the executive vice president now owns 93,180 shares of the company's stock, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 15,650 shares of company stock valued at $638,408. 6.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTDR. JPMorgan Chase & Co. dropped their price target on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Mizuho lowered their target price 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. Morgan Stanley lowered their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. KeyCorp reduced their price target on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, UBS Group began coverage on Matador Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.44.

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.