D.A. Davidson & CO. Purchases New Position in Matador Resources Company (NYSE:MTDR)

D.A. Davidson & CO. purchased a new stake in shares of Matador Resources Company (NYSE:MTDR) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,144 shares of the energy company’s stock, valued at approximately $263,000.

Several other institutional investors have also recently added to or reduced their stakes in MTDR. GAMMA Investing LLC increased its position in Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock valued at $138,000 after acquiring an additional 809 shares in the last quarter. Delphi Management Inc. MA increased its position in Matador Resources by 118.6% in the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company’s stock valued at $1,190,000 after acquiring an additional 12,642 shares in the last quarter. Retirement Systems of Alabama increased its position in Matador Resources by 15.9% in the 1st quarter. Retirement Systems of Alabama now owns 326,134 shares of the energy company’s stock valued at $16,662,000 after acquiring an additional 44,641 shares in the last quarter. Boston Trust Walden Corp increased its position in Matador Resources by 0.6% in the 1st quarter. Boston Trust Walden Corp now owns 1,075,611 shares of the energy company’s stock valued at $54,953,000 after acquiring an additional 6,251 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Matador Resources by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 13,598 shares of the energy company’s stock valued at $694,000 after acquiring an additional 365 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Van H. Singleton II acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average cost of $40.72 per share, with a total value of $40,720.00. Following the completion of the purchase, the insider directly owned 291,135 shares in the company, valued at $11,855,017.20. The trade was a 0.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO Christopher P. Calvert acquired 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $41.13 per share, for a total transaction of $61,695.00. Following the completion of the purchase, the chief operating officer owned 36,500 shares of the company’s stock, valued at $1,501,245. This trade represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 14,850 shares of company stock valued at $601,103 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several analyst reports. Royal Bank Of Canada lowered their price target on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Mizuho lowered their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. KeyCorp lowered their price target on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Stephens decreased their price objective on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.06.

Matador Resources Stock Performance

Shares of MTDR stock opened at $52.47 on Friday. The business’s 50-day moving average price is $46.84 and its 200-day moving average price is $49.92. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $66.89. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 7.04 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. During the same period last year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. Equities research analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, May 9th. Matador Resources’s dividend payout ratio is currently 16.78%.

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.