Teacher Retirement System of Texas Buys Shares of 17,330 Matador Resources Company (NYSE:MTDR)

Teacher Retirement System of Texas bought a new stake in Matador Resources Company (NYSE:MTDR) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 17,330 shares of the energy company’s stock, valued at approximately $885,000.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its position in Matador Resources by 4.2% in the 1st quarter. Bessemer Group Inc. now owns 379,168 shares of the energy company’s stock valued at $19,371,000 after buying an additional 15,355 shares in the last quarter. EQ Wealth Advisors LLC bought a new stake in shares of Matador Resources in the 1st quarter worth approximately $138,000. Advisor Resource Council purchased a new position in Matador Resources in the first quarter valued at approximately $934,000. Retirement Systems of Alabama lifted its stake in Matador Resources by 15.9% in the first quarter. Retirement Systems of Alabama now owns 326,134 shares of the energy company’s stock valued at $16,662,000 after purchasing an additional 44,641 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Matador Resources by 0.6% in the first quarter. Boston Trust Walden Corp now owns 1,075,611 shares of the energy company’s stock valued at $54,953,000 after purchasing an additional 6,251 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several recent research reports. Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada reduced their price objective on Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. KeyCorp reduced their price objective on Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Wells Fargo & Company cut their target price on Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Matador Resources Stock Performance

Matador Resources stock opened at $51.86 on Tuesday. The stock’s 50 day simple moving average is $46.84 and its two-hundred day simple moving average is $49.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 6.96 and a beta of 1.46. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $66.89.

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

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a dividend of $0.3125 per share. The ex-dividend date was Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.41%. Matador Resources’s payout ratio is 16.78%.

Matador Resources declared that its board has authorized a stock repurchase plan on Wednesday, April 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP William Thomas Elsener acquired 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $40.10 per share, for a total transaction of $30,075.00. Following the acquisition, the executive vice president directly owned 111,197 shares in the company, valued at approximately $4,458,999.70. The trade was a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Van H. Singleton II acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $40.72 per share, for a total transaction of $40,720.00. Following the completion of the transaction, the insider directly owned 291,135 shares in the company, valued at $11,855,017.20. This represents a 0.34% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 14,850 shares of company stock valued at $601,103. 5.80% of the stock is currently owned by 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.