Natixis Advisors LLC Sells 62,839 Shares of Matador Resources Company (NYSE:MTDR)

Key Points

• Natixis Advisors LLC has reduced its stake in Matador Resources by 27.5%, now holding 165,572 shares valued at approximately $8.46 million.
• Matador Resources recently reported $1.53 earnings per share for its latest quarter, surpassing analysts' expectations, and its revenue increased by 8.2% year-over-year.
• The company's Board has approved a $400 million share buyback plan, indicating confidence in the stock’s valuation from its leadership.

Natixis Advisors LLC lowered its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,572 shares of the energy company's stock after selling 62,839 shares during the quarter. Natixis Advisors LLC owned about 0.13% of Matador Resources worth $8,459,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in shares of Matador Resources in the 4th quarter worth about $25,000. MCF Advisors LLC purchased a new stake in Matador Resources in the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Matador Resources during the 1st quarter valued at approximately $28,000. Rakuten Securities Inc. grew its position in shares of Matador Resources by 9,090.9% during the 1st quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after acquiring an additional 1,000 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Matador Resources during the 4th quarter valued at approximately $68,000. Institutional investors own 91.98% of the company's stock.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran bought 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $49.17 per share, with a total value of $245,850.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.80% of the company's stock.

Matador Resources Price Performance

Shares of Matador Resources stock traded up $0.54 on Friday, hitting $46.62. 509,595 shares of the company traded hands, compared to its average volume of 1,722,573. The company has a market cap of $5.80 billion, a P/E ratio of 6.82 and a beta of 1.49. The firm's 50-day simple moving average is $49.33 and its 200 day simple moving average is $48.71. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 EPS. Analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

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

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. 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 2.7%. Matador Resources's payout ratio is presently 18.30%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MTDR shares. UBS Group increased their target price on shares of Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Mizuho cut their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. KeyCorp raised their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Stephens cut their price objective 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

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.