SG Americas Securities LLC Increases Stake in Matador Resources Company (NYSE:MTDR)

SG Americas Securities LLC lifted its position in Matador Resources Company (NYSE:MTDR - Free Report) by 316.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,484 shares of the energy company's stock after purchasing an additional 11,764 shares during the period. SG Americas Securities LLC's holdings in Matador Resources were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTDR. Altshuler Shaham Ltd bought a new position in Matador Resources during the fourth quarter valued at $25,000. TCTC Holdings LLC increased its stake in Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after buying an additional 175 shares during the period. EverSource Wealth Advisors LLC increased its stake in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after buying an additional 256 shares during the period. SRS Capital Advisors Inc. increased its stake in Matador Resources by 359.5% in 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. increased 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 valued at $48,000 after purchasing an additional 407 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, April 29th. The shares were purchased at an average price of $40.86 per share, with a total value of $204,300.00. Following the purchase, the chief executive officer now owns 50,756 shares in the company, valued at $2,073,890.16. This represents a 10.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction on Monday, April 28th. The shares were acquired at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the purchase, the executive vice president now owns 93,180 shares in the company, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 14,850 shares of company stock worth $601,103. Company insiders own 5.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. KeyCorp cut their target price on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Bank of America began 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. JPMorgan Chase & Co. lowered their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, UBS Group initiated coverage on Matador Resources in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $69.06.

Matador Resources Stock Down 0.4%

Shares of NYSE MTDR opened at $51.06 on Friday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 6.85 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.79 and a quick ratio of 0.76. The business has a 50-day moving average of $43.82 and a two-hundred day moving average of $50.56. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $66.89.

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

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

Matador Resources Announces Dividend

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. This represents a $1.25 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's payout ratio is 16.78%.

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.

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