Great Valley Advisor Group Inc. acquired a new position in Matador Resources (NYSE:MTDR – Get Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,038 shares of the energy company's stock, valued at approximately $980,000.
Several other institutional investors also recently modified their holdings of the stock. Private Ocean LLC bought a new position in Matador Resources during the first quarter valued at approximately $27,000. Exchange Traded Concepts LLC bought a new position in Matador Resources during the first quarter valued at approximately $31,000. Van ECK Associates Corp bought a new position in Matador Resources during the first quarter valued at approximately $67,000. Archer Investment Corp bought a new position in Matador Resources during the first quarter valued at approximately $74,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Matador Resources during the first quarter valued at approximately $98,000. 88.32% of the stock is currently owned by institutional investors.
Get Matador Resources alerts:Matador Resources Stock Performance
Shares of MTDR stock opened at $48.91 on Thursday. The stock has a fifty day moving average of $56.42 and a 200 day moving average of $54.17. Matador Resources has a 52 week low of $33.49 and a 52 week high of $67.78. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 5.62 and a beta of 3.64. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.48.
Matador Resources (NYSE:MTDR – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The energy company reported $3.47 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $0.31. Matador Resources had a return on equity of 43.58% and a net margin of 40.86%. The company had revenue of $943.93 million during the quarter, compared to analyst estimates of $829.21 million. During the same quarter last year, the firm posted $1.02 earnings per share. As a group, research analysts expect that Matador Resources will post 10.96 earnings per share for the current year.Matador Resources Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were paid a $0.10 dividend. This is a positive change from Matador Resources's previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. Matador Resources's dividend payout ratio (DPR) is presently 4.59%.
Wall Street Analyst Weigh In
A number of brokerages have commented on MTDR. Raymond James reduced their price target on shares of Matador Resources from $70.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday. MKM Partners reiterated a "buy" rating and set a $68.00 price target on shares of Matador Resources in a research report on Wednesday, September 21st. Finally, KeyCorp initiated coverage on shares of Matador Resources in a report on Monday, September 19th. They issued an "overweight" rating and a $72.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and an average price target of $62.22.
About Matador Resources
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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.
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