Wealth Enhancement Advisory Services LLC Buys 12,495 Shares of Matador Resources (NYSE:MTDR)

Wealth Enhancement Advisory Services LLC increased its position in Matador Resources (NYSE:MTDR - Free Report) by 118.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,012 shares of the energy company's stock after purchasing an additional 12,495 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Matador Resources were worth $1,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Matador Resources during the 4th quarter worth approximately $25,000. TCTC Holdings LLC lifted its holdings in shares of Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after buying an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after acquiring an additional 256 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock valued at $33,000 after acquiring an additional 453 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Matador Resources by 90.2% in the fourth quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company's stock valued at $48,000 after acquiring an additional 407 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Matador Resources Stock Up 1.9%

NYSE:MTDR traded up $0.88 during trading hours on Monday, reaching $46.67. The company had a trading volume of 1,233,015 shares, compared to its average volume of 1,621,543. The business's 50-day simple moving average is $42.23 and its two-hundred day simple moving average is $51.04. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 6.54 and a beta of 1.46. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same quarter last year, the firm posted $1.71 EPS. Matador Resources's revenue was up 28.7% compared to the same quarter last year. On average, equities analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Matador Resources announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the energy company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Stephens dropped their price target on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley cut their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Bank of America began coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Matador Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.44.

Insider Activity at Matador Resources

In related news, COO Christopher P. Calvert purchased 1,500 shares of Matador Resources stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $41.13 per share, for a total transaction of $61,695.00. Following the completion of the transaction, the chief operating officer now owns 36,500 shares in the company, valued at $1,501,245. This represents a 4.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $39.63 per share, for a total transaction of $99,075.00. Following the transaction, the chief executive officer now owns 60,756 shares of the company's stock, valued at approximately $2,407,760.28. This trade represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,350 shares of company stock valued at $624,848 over the last 90 days. Insiders own 5.80% of the company's stock.

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.