Opal Wealth Advisors LLC Invests $28,000 in Matador Resources (NYSE:MTDR)

Opal Wealth Advisors LLC purchased a new position in shares of Matador Resources (NYSE:MTDR) in the first quarter, HoldingsChannel reports. The firm purchased 541 shares of the energy company’s stock, valued at approximately $28,000.

A number of other hedge funds have also modified their holdings of MTDR. Allspring Global Investments Holdings LLC grew its holdings in shares of Matador Resources by 16.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock worth $8,088,000 after purchasing an additional 20,172 shares during the period. New York State Teachers Retirement System boosted its holdings in Matador Resources by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 135,477 shares of the energy company’s stock valued at $7,622,000 after acquiring an additional 2,881 shares during the period. Rhumbline Advisers boosted its holdings in Matador Resources by 1.9% during the 4th quarter. Rhumbline Advisers now owns 309,022 shares of the energy company’s stock valued at $17,386,000 after acquiring an additional 5,716 shares during the period. Sanctuary Advisors LLC boosted its holdings in Matador Resources by 20.4% during the 4th quarter. Sanctuary Advisors LLC now owns 7,316 shares of the energy company’s stock valued at $436,000 after acquiring an additional 1,238 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in Matador Resources during the 4th quarter valued at about $209,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MTDR. KeyCorp lowered their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company lowered their target price on Matador Resources from $80.00 to $74.00 and set an “overweight” rating for the company in a report on Monday. Bank of America assumed coverage on Matador Resources in a report on Monday, May 19th. They set a “buy” rating and a $56.00 target price for the company. Finally, Raymond James decreased their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Two equities research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were bought at an average price of $40.86 per share, with a total value of $204,300.00. Following the completion of the transaction, the chief executive officer now directly owns 50,756 shares in the company, valued at approximately $2,073,890.16. This represents a 10.93% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Thomas Elsener purchased 750 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $40.10 per share, for a total transaction of $30,075.00. Following the transaction, the executive vice president now owns 111,197 shares of the company’s stock, valued at $4,458,999.70. This trade represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 14,850 shares of company stock valued at $601,103. Corporate insiders own 5.80% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $50.60 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89. The firm has a market capitalization of $6.33 billion, a PE ratio of 7.09 and a beta of 1.46. The stock’s 50-day simple moving average is $43.21 and its 200-day simple moving average is $50.61.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. During the same quarter last year, the company earned $1.71 EPS. The business’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities research analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, May 9th. Matador Resources’s dividend payout ratio (DPR) is presently 16.78%.

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

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.