Blair William & Co. IL Acquires New Position in Matador Resources Company (NYSE:MTDR)

Blair William & Co. IL acquired a new stake in Matador Resources Company (NYSE:MTDR) in the first quarter, HoldingsChannel.com reports. The fund acquired 8,004 shares of the energy company’s stock, valued at approximately $409,000.

A number of other hedge funds have also recently added to or reduced their stakes in MTDR. LSV Asset Management lifted its position in Matador Resources by 50.9% in the first quarter. LSV Asset Management now owns 2,289,379 shares of the energy company’s stock valued at $116,964,000 after purchasing an additional 772,071 shares during the period. Webs Creek Capital Management LP acquired a new stake in Matador Resources in the fourth quarter valued at about $37,894,000. Raymond James Financial Inc. acquired a new stake in Matador Resources in the fourth quarter valued at about $22,509,000. Balyasny Asset Management L.P. lifted its position in Matador Resources by 101.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company’s stock valued at $41,330,000 after purchasing an additional 370,388 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Matador Resources in the fourth quarter valued at about $19,298,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MTDR. TD Cowen upgraded shares of Matador Resources to a “strong-buy” rating in a research report on Monday, July 7th. Bank of America initiated coverage on shares of Matador Resources in a research report on Monday, May 19th. They set a “buy” rating and a $56.00 price target for the company. Stephens reduced their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. KeyCorp lifted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial lifted their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Matador Resources Trading Down 0.6%

Shares of MTDR opened at $46.25 on Tuesday. 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 firm has a 50 day simple moving average of $49.46 and a 200-day simple moving average of $48.29. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 6.77 and a beta of 1.49.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data 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. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The business had revenue of $895.31 million during the quarter, compared to analysts’ expectations of $892.86 million. During the same period last year, the company posted $2.05 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources’s dividend payout ratio (DPR) is 18.30%.

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

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $49.17 per share, with a total value of $245,850.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by company insiders.

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.