GAMMA Investing LLC Acquires 135,952 Shares of Matador Resources (NYSE:MTDR)

GAMMA Investing LLC grew its holdings in shares of Matador Resources (NYSE:MTDR) by 7,197.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,841 shares of the energy company’s stock after buying an additional 135,952 shares during the period. GAMMA Investing LLC owned 0.11% of Matador Resources worth $7,042,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources during the 4th quarter valued at $25,000. TCTC Holdings LLC boosted its holdings in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after buying an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Matador Resources by 90.2% in the 4th quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company’s stock worth $48,000 after purchasing an additional 407 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MTDR shares. Morgan Stanley dropped their price target on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. JPMorgan Chase & Co. dropped their price target on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company dropped their price target on shares of Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada dropped their price target on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.44.

Insider Activity

In other news, EVP William Thomas Elsener bought 750 shares of Matador Resources stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $40.10 per share, with a total value of $30,075.00. Following the acquisition, the executive vice president now owns 111,197 shares of the company’s stock, valued at $4,458,999.70. The trade was a 0.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, April 29th. The stock was purchased at an average cost of $40.86 per share, with a total value of $204,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 50,756 shares in the company, valued at $2,073,890.16. This represents a 10.93% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 15,350 shares of company stock valued at $624,848 in the last quarter. 5.80% of the stock is currently owned by insiders.

Matador Resources Trading Up 2.3%

Matador Resources stock opened at $45.80 on Monday. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. The company has a market cap of $5.73 billion, a P/E ratio of 6.41 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. The business has a 50-day simple moving average of $42.23 and a two-hundred day simple moving average of $51.04.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. During the same quarter in the prior year, the firm earned $1.71 EPS. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. Analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, May 9th. Matador Resources’s payout ratio is currently 16.78%.

Matador Resources announced that its board has initiated 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 purchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.