Matador Resources Company (NYSE:MTDR) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Matador Resources Company (NYSE:MTDR - Free Report) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,511,643 shares of the energy company's stock after purchasing an additional 956,090 shares during the quarter. Vanguard Group Inc. owned approximately 10.79% of Matador Resources worth $690,310,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in Matador Resources during the fourth quarter valued at approximately $25,000. MCF Advisors LLC purchased a new position in Matador Resources during the first quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new position in Matador Resources during the first quarter valued at $28,000. Rakuten Securities Inc. grew its stake in shares of Matador Resources by 9,090.9% in the 1st quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock worth $52,000 after buying an additional 1,000 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Matador Resources in the 4th quarter worth $68,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTDR. Mizuho lowered their target price on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Raymond James Financial boosted their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Finally, UBS Group lifted their price objective on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Insider Activity

In related news, CEO Joseph Wm Foran purchased 5,000 shares of Matador Resources stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $49.17 per share, for a total transaction of $245,850.00. Following the transaction, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by insiders.

Matador Resources Price Performance

Shares of MTDR traded down $0.86 during midday trading on Friday, reaching $46.90. The stock had a trading volume of 1,344,862 shares, compared to its average volume of 1,927,389. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 6.87 and a beta of 1.49. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The company's 50-day moving average is $49.63 and its 200 day moving average is $48.03. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million for 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 company's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. On average, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio is presently 18.30%.

Matador Resources announced that its board has initiated a stock buyback program on Wednesday, April 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.