Premier Fund Managers Ltd Sells 7,639 Shares of Matador Resources Company (NYSE:MTDR)

Premier Fund Managers Ltd cut its position in shares of Matador Resources Company (NYSE:MTDR) by 44.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,721 shares of the energy company’s stock after selling 7,639 shares during the quarter. Premier Fund Managers Ltd’s holdings in Matador Resources were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of MTDR. Dimensional Fund Advisors LP raised its position in Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after buying an additional 30,184 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after purchasing an additional 555,245 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Matador Resources by 18.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock worth $93,952,000 after purchasing an additional 258,958 shares in the last quarter. LSV Asset Management increased its stake in Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after acquiring an additional 1,098,108 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its holdings in shares of Matador Resources by 6.9% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,418,366 shares of the energy company’s stock worth $79,797,000 after buying an additional 91,686 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on MTDR shares. KeyCorp upped their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. TD Cowen raised Matador Resources to a “strong-buy” rating in a research report on Monday, July 7th. Wells Fargo & Company dropped 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. UBS Group boosted their price target on Matador Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.27.

Matador Resources Stock Down 0.2%

NYSE MTDR opened at $52.44 on Wednesday. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The company has a market cap of $6.53 billion, a P/E ratio of 7.68 and a beta of 1.46. The business has a fifty day moving average price of $48.55 and a 200 day moving average price of $49.31. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Matador Resources’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.38%. Matador Resources’s dividend payout ratio (DPR) is presently 18.30%.

Matador Resources declared that its Board of Directors has approved a share repurchase program on Wednesday, April 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the energy company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Matador Resources

In related news, insider Van H. Singleton II purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $40.72 per share, for a total transaction of $40,720.00. Following the acquisition, the insider directly owned 291,135 shares in the company, valued at $11,855,017.20. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $39.63 per share, with a total value of $99,075.00. Following the purchase, the chief executive officer directly owned 60,756 shares of the company’s stock, valued at $2,407,760.28. The trade was a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 8,550 shares of company stock valued at $343,483. Corporate 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.