NBC Securities Inc. Has $380,000 Stock Position in Matador Resources (NYSE:MTDR)

NBC Securities Inc. increased its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 106,314.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,449 shares of the energy company's stock after purchasing an additional 7,442 shares during the period. NBC Securities Inc.'s holdings in Matador Resources were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC raised its stake in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after buying an additional 175 shares in the last quarter. Atria Investments Inc boosted its position in shares of Matador Resources by 3.1% during the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock valued at $461,000 after purchasing an additional 249 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 256 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Matador Resources by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock worth $1,936,000 after acquiring an additional 280 shares during the last quarter. Finally, State of Wyoming raised its position in shares of Matador Resources by 11.6% during the fourth quarter. State of Wyoming now owns 2,772 shares of the energy company's stock worth $156,000 after purchasing an additional 288 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 5,000 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was purchased at an average price of $40.86 per share, with a total value of $204,300.00. Following the transaction, the chief executive officer now directly owns 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Glenn W. Stetson purchased 1,000 shares of the firm's stock in a transaction on Monday, April 28th. The shares were purchased at an average price of $41.53 per share, with a total value of $41,530.00. Following the completion of the acquisition, the executive vice president now directly 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. Insiders have purchased a total of 15,350 shares of company stock worth $624,848 over the last three months. Corporate insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on 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. Bank of America initiated coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Mizuho reduced their price target 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. Finally, KeyCorp dropped their price target on Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.44.

Matador Resources Stock Up 2.8%

Shares of NYSE MTDR traded up $1.29 during trading hours on Tuesday, hitting $47.95. The stock had a trading volume of 1,419,653 shares, compared to its average volume of 1,620,045. The firm's 50-day moving average price is $42.18 and its two-hundred day moving average price is $50.92. Matador Resources has a 52 week low of $35.19 and a 52 week high of $66.89. The company has a market capitalization of $6.00 billion, a P/E ratio of 6.72 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 earnings per share. Analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's payout ratio is 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.