Retirement Systems of Alabama Grows Stock Position in Matador Resources Company (NYSE:MTDR)

Retirement Systems of Alabama increased its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 326,134 shares of the energy company's stock after buying an additional 44,641 shares during the quarter. Retirement Systems of Alabama owned about 0.26% of Matador Resources worth $16,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the period. Webs Creek Capital Management LP purchased a new position in shares of Matador Resources in the 4th quarter worth about $37,894,000. Alliancebernstein L.P. raised its holdings in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock worth $151,824,000 after purchasing an additional 555,245 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Matador Resources in the 4th quarter worth about $22,509,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Matador Resources by 101.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock worth $41,330,000 after purchasing an additional 370,388 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $39.63 per share, for a total transaction of $99,075.00. Following the transaction, the chief executive officer now owns 60,756 shares in the company, valued at $2,407,760.28. The trade was a 4.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Glenn W. Stetson bought 1,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was purchased at an average price of $41.53 per share, with a total value of $41,530.00. Following the transaction, the executive vice president now owns 93,180 shares in the company, valued at approximately $3,869,765.40. This represents a 1.08% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 14,850 shares of company stock worth $601,103. 5.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTDR has been the topic of a number of research reports. 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 report on Monday, June 16th. Bank of America initiated coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective on the stock. UBS Group began coverage on Matador Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price objective on the stock. Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Raymond James Financial dropped their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Two investment 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 stock has an average rating of "Moderate Buy" and a consensus target price of $69.06.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $51.47 on Friday. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $66.89. The business has a 50 day moving average price of $44.06 and a two-hundred day moving average price of $50.46. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $6.44 billion, a PE ratio of 6.91 and a beta of 1.46.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. During the same quarter last year, the firm earned $1.71 EPS. Matador Resources's quarterly revenue was up 28.7% on a year-over-year basis. Sell-side analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources declared that its board has initiated a share buyback plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3125 per share. The ex-dividend date was Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.43%. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

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.

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