Retirement Systems of Alabama Has $16.66 Million Position in Matador Resources Company (NYSE:MTDR)

Retirement Systems of Alabama grew its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 15.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 326,134 shares of the energy company's stock after buying an additional 44,641 shares during the period. Retirement Systems of Alabama owned approximately 0.26% of Matador Resources worth $16,662,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in Matador Resources during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after buying an additional 256 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after acquiring an additional 175 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Matador Resources during the 1st quarter valued at about $28,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of Matador Resources by 359.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock valued at $33,000 after acquiring an additional 453 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 5,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were bought at an average cost of $40.86 per share, for a total transaction of $204,300.00. Following the transaction, the chief executive officer now owns 50,756 shares in the company, valued at approximately $2,073,890.16. This trade represents a 10.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average cost of $41.53 per share, with a total value of $41,530.00. Following the completion of the purchase, the executive vice president now owns 93,180 shares of the company's stock, valued at $3,869,765.40. The trade was a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 14,850 shares of company stock worth $601,103. Insiders own 5.80% of the company's stock.

Matador Resources Price Performance

NYSE:MTDR traded down $0.69 during mid-day trading on Wednesday, reaching $47.83. 1,503,884 shares of the company were exchanged, compared to its average volume of 1,619,200. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $66.89. The company has a fifty day moving average of $44.44 and a 200 day moving average of $50.35. 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 stock has a market cap of $5.99 billion, a PE ratio of 6.42 and a beta of 1.46.

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

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

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's dividend payout ratio is 16.78%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stephens dropped their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Bank of America began coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 target price for the company. KeyCorp decreased their price target on Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Mizuho dropped their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.06.

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.