Panagora Asset Management Inc. Purchases 63,507 Shares of Matador Resources Company $MTDR

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Matador Resources by 915.2% during the first quarter, owning 70,446 shares valued at approximately $3.6 million.
• Matador Resources reported $1.53 earnings per share for the last quarter, exceeding estimates, with a revenue of $895.31 million, a year-over-year increase of 8.2%.
• The company recently announced a $0.3125 quarterly dividend, with an annual yield of 2.5%, and insiders currently own 5.80% of the stock.

Panagora Asset Management Inc. grew its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 915.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,446 shares of the energy company's stock after buying an additional 63,507 shares during the quarter. Panagora Asset Management Inc. owned 0.06% of Matador Resources worth $3,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Concurrent Investment Advisors LLC grew its stake in shares of Matador Resources by 0.4% during the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after buying an additional 244 shares during the last quarter. State of Wyoming grew its stake 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 valued at $156,000 after buying an additional 288 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Matador Resources by 1.1% in the first quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock worth $1,420,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Matador Resources by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock valued at $1,660,000 after purchasing an additional 300 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Matador Resources by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock valued at $555,000 after purchasing an additional 340 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on MTDR shares. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Wells Fargo & Company cut their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Bank of America initiated coverage on Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. KeyCorp dropped their price target on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, UBS Group dropped their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Matador Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.53.

Matador Resources Stock Performance

MTDR traded up $1.10 during mid-day trading on Thursday, reaching $50.03. 2,003,105 shares of the company traded hands, compared to its average volume of 1,297,131. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The company's fifty day moving average price is $49.40 and its 200-day moving average price is $47.23. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $6.23 billion, a P/E ratio of 7.33 and a beta of 1.49.

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

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given 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 2.5%. Matador Resources's payout ratio is presently 18.30%.

Insider Activity

In other news, CEO Joseph Wm Foran bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $46.25 per share, with a total value of $92,500.00. Following the acquisition, the chief executive officer owned 8,606 shares of the company's stock, valued at approximately $398,027.50. This represents a 30.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is currently owned by insiders.

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.