Legacy Wealth Management LLC MS Raises Stock Holdings in Matador Resources (NYSE:MTDR)

Legacy Wealth Management LLC MS grew its position in Matador Resources (NYSE:MTDR - Free Report) by 89.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,955 shares of the energy company's stock after purchasing an additional 26,940 shares during the period. Legacy Wealth Management LLC MS's holdings in Matador Resources were worth $2,910,000 at the end of the most recent quarter.

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Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Matador Resources by 118.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,012 shares of the energy company's stock worth $1,295,000 after purchasing an additional 12,495 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Matador Resources during the 4th quarter worth about $7,529,000. American Trust raised its stake in shares of Matador Resources by 11.5% during the 4th quarter. American Trust now owns 6,280 shares of the energy company's stock valued at $353,000 after buying an additional 650 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Matador Resources in the 4th quarter valued at about $1,988,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Matador Resources in the 4th quarter valued at about $3,705,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on MTDR shares. Raymond James reduced their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average price target of $69.44.

Check Out Our Latest Research Report on MTDR

Matador Resources Stock Performance

NYSE MTDR opened at $43.86 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The stock's 50 day simple moving average is $43.22 and its 200-day simple moving average is $51.81. The company has a market cap of $5.49 billion, a PE ratio of 6.14 and a beta of 1.47. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same period in the prior year, the company earned $1.71 EPS. The firm's revenue was up 28.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, May 9th. Matador Resources's dividend payout ratio is currently 16.78%.

Matador Resources announced that its board has authorized a stock repurchase plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Van H. Singleton II purchased 1,000 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $40.72 per share, for a total transaction of $40,720.00. Following the acquisition, the insider now directly owns 291,135 shares in the company, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $39.63 per share, with a total value of $99,075.00. Following the completion of the transaction, the chief executive officer now owns 60,756 shares of the company's stock, valued at $2,407,760.28. The trade was a 4.29% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 21,850 shares of company stock worth $931,694. 6.10% of the stock is owned by insiders.

Matador Resources 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.

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