Peterson Wealth Services Has $3.07 Million Position in Matador Resources Company (NYSE:MTDR)

Peterson Wealth Services boosted its position in Matador Resources Company (NYSE:MTDR - Free Report) by 61.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,125 shares of the energy company's stock after acquiring an additional 22,889 shares during the quarter. Peterson Wealth Services' holdings in Matador Resources were worth $3,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its holdings in Matador Resources by 2.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 71,950 shares of the energy company's stock valued at $3,676,000 after acquiring an additional 1,619 shares during the last quarter. South Dakota Investment Council raised its position in Matador Resources by 11.8% in the first quarter. South Dakota Investment Council now owns 292,809 shares of the energy company's stock valued at $14,960,000 after purchasing an additional 30,887 shares during the period. Private Advisor Group LLC raised its position in Matador Resources by 1.9% in the first quarter. Private Advisor Group LLC now owns 49,457 shares of the energy company's stock valued at $2,527,000 after purchasing an additional 932 shares during the period. Burns Matteson Capital Management LLC purchased a new position in Matador Resources in the first quarter valued at about $474,000. Finally, Verdence Capital Advisors LLC raised its position in Matador Resources by 39.7% in the first quarter. Verdence Capital Advisors LLC now owns 8,837 shares of the energy company's stock valued at $451,000 after purchasing an additional 2,511 shares during the period. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Stock Down 1.2%

Matador Resources stock traded down $0.60 during midday trading on Thursday, hitting $49.73. The stock had a trading volume of 1,400,792 shares, compared to its average volume of 1,708,821. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The stock has a market cap of $6.23 billion, a P/E ratio of 7.28 and a beta of 1.46. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $64.04. The business has a fifty day moving average price of $48.13 and a 200 day moving average price of $49.63.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share 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 analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.78% and a net margin of 22.57%. Matador Resources's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 earnings per share. Research analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

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

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio is currently 18.30%.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the completion of the transaction, the executive vice president owned 93,180 shares in the company, valued at approximately $3,869,765.40. This represents a 1.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Van H. Singleton II acquired 1,000 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $40.72 per share, with a total value of $40,720.00. Following the completion of the transaction, the insider owned 291,135 shares of the company's stock, valued at approximately $11,855,017.20. This trade represents a 0.34% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 14,850 shares of company stock valued at $601,103 over the last 90 days. Corporate insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTDR. Bank of America began coverage on Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective on the stock. UBS Group raised their price objective on Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. KeyCorp raised their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Mizuho cut their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and an average target price of $69.25.

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.