Burford Brothers Inc. Increases Stock Position in Matador Resources Company $MTDR

Burford Brothers Inc. lifted its holdings in shares of Matador Resources Company (NYSE:MTDR) by 7.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,543 shares of the energy company’s stock after buying an additional 1,959 shares during the quarter. Burford Brothers Inc.’s holdings in Matador Resources were worth $1,314,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTDR. Vanguard Group Inc. grew its stake in shares of Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company’s stock worth $690,310,000 after purchasing an additional 956,090 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company’s stock worth $279,192,000 after buying an additional 20,134 shares in the last quarter. LSV Asset Management grew its position in shares of Matador Resources by 50.9% in the first quarter. LSV Asset Management now owns 2,289,379 shares of the energy company’s stock valued at $116,964,000 after purchasing an additional 772,071 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Matador Resources by 30.5% in the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company’s stock valued at $104,413,000 after purchasing an additional 477,236 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its stake in shares of Matador Resources by 6.8% during the 1st quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company’s stock worth $77,398,000 after purchasing an additional 96,562 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTDR has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Matador Resources from $69.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Raymond James Financial raised their target price on shares of Matador Resources from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Wells Fargo & Company dropped their price target on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. KeyCorp dropped their price objective on Matador Resources from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Finally, UBS Group reduced their price objective on Matador Resources from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and a consensus price target of $66.36.

Matador Resources Trading Up 0.1%

NYSE MTDR opened at $43.00 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The company has a 50-day simple moving average of $46.80 and a 200-day simple moving average of $46.14. The firm has a market capitalization of $5.35 billion, a PE ratio of 6.30 and a beta of 1.41.

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

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be given a $0.375 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.50 dividend on an annualized basis and a yield of 3.5%. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. Matador Resources’s payout ratio is currently 18.30%.

Insider Activity

In related news, EVP William Thomas Elsener acquired 600 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average cost of $48.46 per share, with a total value of $29,076.00. Following the completion of the transaction, the executive vice president owned 112,069 shares of the company’s stock, valued at approximately $5,430,863.74. This trade represents a 0.54% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christopher P. Calvert purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $47.77 per share, for a total transaction of $47,770.00. Following the completion of the purchase, the chief operating officer directly owned 37,500 shares of the company’s stock, valued at $1,791,375. The trade was a 2.74% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 11,380 shares of company stock worth $549,188. 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.