Neo Ivy Capital Management Takes $3.71 Million Position in Matador Resources (NYSE:MTDR)

Neo Ivy Capital Management bought a new stake in Matador Resources (NYSE:MTDR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 65,865 shares of the energy company's stock, valued at approximately $3,705,000. Neo Ivy Capital Management owned about 0.05% of Matador Resources at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Matador Resources in the fourth quarter valued at $25,000. TCTC Holdings LLC grew its position 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 valued at $28,000 after buying an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Matador Resources by 108.5% in 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. MassMutual Private Wealth & Trust FSB raised its position in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after acquiring an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in shares of Matador Resources by 359.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock worth $33,000 after acquiring an additional 453 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Up 0.7%

NYSE MTDR traded up $0.31 during trading hours on Wednesday, hitting $44.47. The company's stock had a trading volume of 450,215 shares, compared to its average volume of 1,625,591. The company has a market capitalization of $5.57 billion, a PE ratio of 6.23 and a beta of 1.47. 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 has a 52 week low of $35.19 and a 52 week high of $66.89. The company's 50-day simple moving average is $43.38 and its two-hundred day simple moving average is $51.86.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its 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 analysts' expectations of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Matador Resources's quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 earnings per share. Research analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.81%. Matador Resources's dividend payout ratio is currently 16.78%.

Matador Resources announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company reduced their target price on Matador Resources from $86.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective 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. Raymond James dropped their target price on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada decreased their price target on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, KeyCorp lowered their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.44.

Insider Activity at Matador Resources

In related news, Director Timothy E. Parker purchased 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $44.67 per share, with a total value of $89,340.00. Following the acquisition, the director now owns 83,790 shares of the company's stock, valued at $3,742,899.30. This represents a 2.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $39.63 per share, with a total value of $99,075.00. Following the acquisition, the chief executive officer now directly owns 60,756 shares of the company's stock, valued at $2,407,760.28. The trade was a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 22,300 shares of company stock valued at $955,571 over the last ninety days. Corporate insiders own 6.10% of the company's stock.

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.