United Services Automobile Association Purchases New Position in Matador Resources Company $MTDR

Key Points

• United Services Automobile Association invested approximately $383,000 to acquire 7,588 shares of Matador Resources during the first quarter of the year.
• Matador Resources reported $1.53 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 8.2%.
• The company has announced a quarterly dividend of $0.3125 per share, representing an annualized yield of 2.6% and a payout ratio of 18.30%.

United Services Automobile Association purchased a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,588 shares of the energy company's stock, valued at approximately $383,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after buying an additional 956,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Matador Resources by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company's stock worth $279,192,000 after buying an additional 20,134 shares during the last quarter. LSV Asset Management boosted its stake in shares of Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after buying an additional 772,071 shares during the last quarter. Wellington Management Group LLP lifted its stake in Matador Resources by 30.5% in the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock valued at $104,413,000 after purchasing an additional 477,236 shares during the last quarter. Finally, Beck Mack & Oliver LLC lifted its stake in Matador Resources by 6.8% in the first quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock valued at $77,398,000 after purchasing an additional 96,562 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Insiders Place Their Bets

In other Matador Resources news, COO Christopher P. Calvert bought 1,000 shares of the stock in a transaction dated Friday, September 12th. The stock was purchased at an average cost of $47.77 per share, for a total transaction 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 trade represents a 2.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $48.15 per share, with a total value of $96,300.00. Following the completion of the acquisition, the chief executive officer directly owned 8,025 shares of the company's stock, valued at approximately $386,403.75. The trade was a 33.20% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 11,380 shares of company stock worth $549,188 over the last three months. Company insiders own 5.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on MTDR. Morgan Stanley upped their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Mizuho lowered their target price on shares of Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. KeyCorp lowered their target price on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Finally, Raymond James Financial increased their price objective on Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $67.27.

Matador Resources Trading Down 0.5%

Shares of Matador Resources stock traded down $0.23 during trading on Wednesday, reaching $47.75. 228,540 shares of the stock were exchanged, compared to its average volume of 1,668,055. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average is $49.09 and its 200 day moving average is $46.83. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 7.00 and a beta of 1.49. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04.

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

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.3125 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is 18.30%.

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.