United Services Automobile Association Takes $383,000 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 position in Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,588 shares of the energy company's stock, valued at approximately $383,000.

Several other large investors also recently modified their holdings of MTDR. Jones Financial Companies Lllp raised its stake in Matador Resources by 1,104.8% during the first quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company's stock worth $103,000 after buying an additional 1,845 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Matador Resources during the first quarter worth $1,712,000. Jacobs Levy Equity Management Inc. raised its stake in Matador Resources by 381.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 117,530 shares of the energy company's stock worth $6,005,000 after buying an additional 93,118 shares during the last quarter. Hancock Whitney Corp raised its stake in Matador Resources by 52.7% during the first quarter. Hancock Whitney Corp now owns 44,662 shares of the energy company's stock worth $2,282,000 after buying an additional 15,423 shares during the last quarter. Finally, Corigliano Investment Advisers LLC bought a new position in Matador Resources during the first quarter worth $6,448,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MTDR shares. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Raymond James Financial lifted their target price on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. William Blair started coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. KeyCorp reduced their price target on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Finally, Bank of America started coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target for the company. One investment 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.com, Matador Resources presently has a consensus rating of "Moderate Buy" and an average price target of $67.53.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran acquired 5,000 shares of Matador Resources stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the acquisition, the chief executive officer directly owned 6,606 shares of the company's stock, valued at $324,817.02. This represents a 311.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.80% of the stock is owned by corporate insiders.

Matador Resources Stock Down 1.8%

NYSE:MTDR traded down $0.87 during trading hours on Friday, reaching $47.72. The company had a trading volume of 1,126,581 shares, compared to its average volume of 1,244,562. 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 firm has a market cap of $5.94 billion, a price-to-earnings ratio of 6.99 and a beta of 1.49. The business's 50-day simple moving average is $49.23 and its two-hundred day simple moving average is $46.86. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04.

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

Matador Resources Dividend Announcement

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