Rhumbline Advisers Purchases 19,937 Shares of Matador Resources (NYSE:MTDR)

Rhumbline Advisers grew its stake in Matador Resources (NYSE:MTDR - Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,959 shares of the energy company's stock after purchasing an additional 19,937 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Matador Resources worth $16,806,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Matador Resources during the fourth quarter worth about $25,000. TCTC Holdings LLC boosted its stake in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 256 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Matador Resources by 359.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock worth $33,000 after buying an additional 453 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in Matador Resources by 90.2% during the 4th quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company's stock worth $48,000 after buying an additional 407 shares during the period. 91.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Van H. Singleton II bought 1,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $40.72 per share, with a total value of $40,720.00. Following the completion of the purchase, the insider now directly owns 291,135 shares of the company's stock, valued at $11,855,017.20. This trade represents a 0.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $39.63 per share, for a total transaction of $99,075.00. Following the completion of the purchase, the chief executive officer now directly owns 60,756 shares of the company's stock, valued at $2,407,760.28. This represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 15,650 shares of company stock worth $638,408 over the last quarter. 5.80% of the stock is currently owned by company insiders.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $45.80 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.73 billion, a PE ratio of 6.41 and a beta of 1.46. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89. The company has a 50-day moving average price of $42.23 and a two-hundred day moving average price of $51.11.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.25. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company's quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business earned $1.71 earnings per share. Equities analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the energy company to purchase up to 7.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given 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 2.73%. Matador Resources's dividend payout ratio is presently 16.78%.

Analyst Ratings Changes

MTDR has been the topic of several recent research reports. Bank of America started coverage on shares of Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Morgan Stanley decreased their price target on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Raymond James decreased their price target on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, March 10th. Finally, Stephens reduced their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.44.

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.

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