First Trust Advisors LP Increases Stock Position in Matador Resources Company $MTDR

First Trust Advisors LP raised its holdings in shares of Matador Resources Company (NYSE:MTDR) by 103.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,595,415 shares of the energy company’s stock after purchasing an additional 810,808 shares during the period. First Trust Advisors LP owned approximately 1.28% of Matador Resources worth $100,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MTDR. Cadence Wealth Management LLC bought a new stake in Matador Resources in the 1st quarter worth about $981,000. PNC Financial Services Group Inc. lifted its stake in Matador Resources by 22.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,147 shares of the energy company’s stock valued at $767,000 after acquiring an additional 2,250 shares during the period. Madison Asset Management LLC lifted its stake in Matador Resources by 27.0% during the 1st quarter. Madison Asset Management LLC now owns 280,699 shares of the energy company’s stock valued at $17,735,000 after acquiring an additional 59,699 shares during the period. Amova Asset Management Americas Inc. boosted its holdings in shares of Matador Resources by 2.5% during the 1st quarter. Amova Asset Management Americas Inc. now owns 20,072 shares of the energy company’s stock valued at $1,268,000 after acquiring an additional 483 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Matador Resources by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after acquiring an additional 277,839 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Transactions at Matador Resources

In other Matador Resources news, CFO Christopher P. Calvert bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $53.24 per share, with a total value of $79,860.00. Following the purchase, the chief financial officer owned 41,500 shares of the company’s stock, valued at $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Glenn W. Stetson bought 500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 11,907 shares of company stock valued at $635,712 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Matador Resources Stock Down 1.6%

MTDR opened at $50.88 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a market capitalization of $6.32 billion, a PE ratio of 13.08 and a beta of 0.74. The firm’s 50 day simple moving average is $53.10 and its two-hundred day simple moving average is $53.20.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The firm had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 EPS. As a group, equities analysts forecast that Matador Resources Company will post 6.83 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.9%. Matador Resources’s dividend payout ratio is presently 38.56%.

Analyst Ratings Changes

MTDR has been the subject of several research reports. KeyCorp boosted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. BMO Capital Markets boosted their target price on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. UBS Group lowered their price target on Matador Resources from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup dropped their price target on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Wells Fargo & Company lifted their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.08.

Matador Resources Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.