New Age Alpha Advisors LLC Sells 10,720 Shares of Matador Resources Company (NYSE:MTDR)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Matador Resources by 41.6% during the first quarter, retaining 15,065 shares valued at $770,000.
• Matador Resources has announced a stock buyback program allowing for the repurchase of up to $400 million in shares, which signifies management's belief that the stock is undervalued.
• The company declared a quarterly dividend of $0.3125 per share, translating to an annual yield of 2.7%, scheduled for payment on September 5th.

New Age Alpha Advisors LLC lowered its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 41.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,065 shares of the energy company's stock after selling 10,720 shares during the period. New Age Alpha Advisors LLC's holdings in Matador Resources were worth $770,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Joseph Wm Foran acquired 5,000 shares of the firm's stock in a transaction on 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 acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at $324,817.02. The trade was a 311.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 5.80% of the stock is owned by company insiders.

Matador Resources Stock Performance

Shares of Matador Resources stock traded up $1.15 on Tuesday, reaching $47.38. The stock had a trading volume of 2,302,328 shares, compared to its average volume of 1,729,096. The stock has a market cap of $5.90 billion, a P/E ratio of 6.94 and a beta of 1.49. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.04. The business's 50-day moving average price is $49.46 and its two-hundred day moving average price is $48.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.29 by $0.24. The firm had revenue of $895.31 million during 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 business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. On average, sell-side analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources announced that its Board of Directors has approved a share repurchase 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 reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is 18.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MTDR shares. Stephens lowered their price target 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. UBS Group boosted their price objective on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Mizuho decreased their target price on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Finally, Raymond James Financial increased their price objective on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Matador Resources 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.