Premier Fund Managers Ltd Sells 7,639 Shares of Matador Resources Company (NYSE:MTDR)

Key Points

• Premier Fund Managers Ltd reduced its stake in Matador Resources by 44.0% during the first quarter, resulting in holdings of 9,721 shares valued at approximately $491,000.
• Matador Resources announced a quarterly dividend of $0.3125, with an ex-dividend date of August 15th, representing an annualized yield of 2.38%.
• Analysts have set a consensus price target of $68.27 for Matador Resources, highlighting a positive outlook with twelve buy ratings and one strong buy rating.

Premier Fund Managers Ltd reduced its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 44.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,721 shares of the energy company's stock after selling 7,639 shares during the quarter. Premier Fund Managers Ltd's holdings in Matador Resources were worth $491,000 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 stock. Concurrent Investment Advisors LLC lifted its holdings 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 purchasing an additional 244 shares during the last quarter. State of Wyoming raised its stake in shares of Matador Resources by 11.6% during the 4th quarter. State of Wyoming now owns 2,772 shares of the energy company's stock worth $156,000 after purchasing an additional 288 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Matador Resources by 1.1% during the 1st 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 in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of 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 worth $1,660,000 after purchasing an additional 300 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of 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 acquiring an additional 340 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on MTDR. Bank of America began coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 target price on the stock. Wells Fargo & Company decreased their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. KeyCorp lifted 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, July 24th. UBS Group boosted their target price on Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.27.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener acquired 750 shares of the stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the acquisition, the executive vice president directly owned 111,197 shares of the company's stock, valued at approximately $4,458,999.70. This represents a 0.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Van H. Singleton II bought 1,000 shares of the 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 acquisition, the insider directly owned 291,135 shares of the company's stock, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,550 shares of company stock valued at $343,483. 5.80% of the stock is currently owned by corporate insiders.

Matador Resources Stock Down 2.1%

MTDR traded down $1.08 during midday trading on Wednesday, reaching $51.28. 1,598,394 shares of the company were exchanged, compared to its average volume of 1,729,460. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The company's fifty day moving average price is $48.86 and its 200 day moving average price is $49.35. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 7.51 and a beta of 1.46. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04.

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

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.3125 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.44%. Matador Resources's payout ratio is presently 18.30%.

Matador Resources declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

About Matador Resources

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.