Wealth Enhancement Advisory Services LLC Boosts Stock Position in Matador Resources Company $MTDR

Key Points

• Wealth Enhancement Advisory Services LLC increased its stock position in Matador Resources by 129.9% during the second quarter, acquiring an additional 17,471 shares, bringing its total to 30,920 shares valued at approximately $1.56 million.
• Several institutional investors have enhanced their holdings in Matador Resources, with NBC Securities Inc. notably increasing its stake by 106,314.3% in the first quarter.
• Matador Resources recently declared a quarterly dividend of $0.3125 per share, yielding 2.7% annually, which highlights its commitment to returning value to shareholders.

Wealth Enhancement Advisory Services LLC lifted its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 129.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,920 shares of the energy company's stock after purchasing an additional 17,471 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Matador Resources were worth $1,561,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Two Sigma Investments LP boosted its position in Matador Resources by 16.9% during the 4th quarter. Two Sigma Investments LP now owns 29,916 shares of the energy company's stock valued at $1,683,000 after acquiring an additional 4,324 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Matador Resources by 7,197.0% during the first quarter. GAMMA Investing LLC now owns 137,841 shares of the energy company's stock valued at $7,042,000 after purchasing an additional 135,952 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Matador Resources by 6.5% during the first quarter. Rhumbline Advisers now owns 328,959 shares of the energy company's stock valued at $16,806,000 after purchasing an additional 19,937 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of Matador Resources by 106,314.3% during the first quarter. NBC Securities Inc. now owns 7,449 shares of the energy company's stock valued at $380,000 after purchasing an additional 7,442 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC purchased a new position in shares of Matador Resources during the first quarter valued at approximately $816,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $48.15 per share, with a total value of $96,300.00. Following the acquisition, the chief executive officer directly owned 8,025 shares of the company's stock, valued at approximately $386,403.75. This trade represents a 33.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, COO Christopher P. Calvert acquired 1,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $47.77 per share, with a total value of $47,770.00. Following the acquisition, the chief operating officer directly owned 37,500 shares in the company, valued at approximately $1,791,375. The trade was a 2.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 11,380 shares of company stock worth $549,188. Corporate insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several recent research reports. Mizuho lowered their target price on shares of Matador Resources from $73.00 to $69.00 and set an "outperform" rating for the company in a report on Monday, September 15th. William Blair initiated coverage on shares of Matador Resources in a report on Monday, August 25th. They set an "outperform" rating for the company. Raymond James Financial lifted their target price 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. UBS Group decreased their price objective on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. Finally, TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.27.

Matador Resources Trading Down 6.9%

Shares of MTDR stock opened at $45.65 on Tuesday. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The firm has a fifty day moving average price of $48.32 and a 200-day moving average price of $46.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 6.68 and a beta of 1.49.

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

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Matador Resources's dividend payout ratio is presently 18.30%.

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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