Charles Schwab Investment Management Inc. Sells 53,505 Shares of Matador Resources Company (NYSE:MTDR)

Charles Schwab Investment Management Inc. lessened its holdings in Matador Resources Company (NYSE:MTDR) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,438,065 shares of the energy company’s stock after selling 53,505 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.15% of Matador Resources worth $73,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MTDR. D.A. Davidson & CO. purchased a new position in shares of Matador Resources during the 1st quarter valued at $263,000. GAMMA Investing LLC lifted its position in shares of Matador Resources by 42.8% during the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock valued at $138,000 after buying an additional 809 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Matador Resources during the 1st quarter valued at $885,000. Delphi Management Inc. MA lifted its position in shares of Matador Resources by 118.6% during the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company’s stock valued at $1,190,000 after buying an additional 12,642 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Matador Resources during the 1st quarter valued at $200,000. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $47.97 on Thursday. The business’s 50-day moving average price is $49.55 and its two-hundred day moving average price is $48.29. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The stock has a market cap of $5.97 billion, a P/E ratio of 7.02 and a beta of 1.49. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.24. The firm had revenue of $895.31 million for the quarter, compared to analysts’ expectations of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 EPS. As a group, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.6%. Matador Resources’s dividend payout ratio is 18.30%.

Matador Resources declared that its Board of Directors has approved 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 repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MTDR shares. Wells Fargo & Company dropped their price objective on Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Raymond James Financial raised their target price on Matador Resources from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. KeyCorp raised their target price on Matador Resources from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group raised their target price on Matador Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Mizuho cut their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran acquired 5,000 shares of Matador Resources stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the transaction, the chief executive officer owned 6,606 shares of the company’s stock, valued at $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.