Tweedy Browne Co LLC Acquires New Stake in Matador Resources Company $MTDR

Key Points

• Tweedy Browne Co LLC has acquired a new stake in Matador Resources, purchasing 7,545 shares valued at approximately $360,000 during the second quarter.
• Matador Resources recently announced an increase in its quarterly dividend from $0.31 to $0.375 per share, reflecting a growing commitment to returning value to shareholders.
• Equities analysts have mixed sentiments on Matador Resources, with some lowering their price targets while maintaining buy recommendations, indicating a consensus rating of "Moderate Buy" with a target price of around $66.36.

Tweedy Browne Co LLC acquired a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 7,545 shares of the energy company's stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. purchased a new position in Matador Resources in the 1st quarter valued at $263,000. GAMMA Investing LLC grew its position in Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock valued at $138,000 after buying an additional 809 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Matador Resources in the 1st quarter valued at $885,000. OneDigital Investment Advisors LLC purchased a new position in Matador Resources in the 1st quarter valued at $200,000. Finally, Penserra Capital Management LLC grew its position in Matador Resources by 89.9% in the 1st quarter. Penserra Capital Management LLC now owns 15,570 shares of the energy company's stock valued at $795,000 after buying an additional 7,369 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MTDR shares. Wells Fargo & Company lowered their price objective on shares of Matador Resources from $77.00 to $76.00 and set an "overweight" rating on the stock in a research report on Monday. Bank of America reduced their target price on Matador Resources from $56.00 to $55.00 and set a "buy" rating for the company in a report on Thursday. KeyCorp reduced their target price on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. TD Cowen raised Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Finally, Morgan Stanley reduced their target price on Matador Resources from $62.00 to $61.00 and set an "equal weight" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $66.36.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $49.17 per share, with a total value of $245,850.00. Following the purchase, the chief executive officer directly owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher P. Calvert purchased 1,000 shares of the stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $47.77 per share, with a total value of $47,770.00. Following the completion of the acquisition, the chief operating officer owned 37,500 shares of the company's stock, valued at approximately $1,791,375. This represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,380 shares of company stock valued at $549,188 in the last 90 days. 5.80% of the stock is currently owned by insiders.

Matador Resources Trading Down 0.4%

NYSE:MTDR opened at $42.95 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of 6.29 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The stock has a fifty day simple moving average of $46.87 and a 200-day simple moving average of $46.24.

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

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.375 per share. This is a boost from Matador Resources's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.50 annualized dividend and a dividend yield of 3.5%. Matador Resources's dividend payout ratio is presently 18.30%.

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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