Neo Ivy Capital Management Invests $3.71 Million in Matador Resources (NYSE:MTDR)

Neo Ivy Capital Management purchased a new position in shares of Matador Resources (NYSE:MTDR) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 65,865 shares of the energy company’s stock, valued at approximately $3,705,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTDR. LSV Asset Management lifted its stake in Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after purchasing an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC raised its position in Matador Resources by 145.2% in the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after purchasing an additional 760,122 shares during the period. Webs Creek Capital Management LP bought a new stake in Matador Resources in the 4th quarter worth $37,894,000. Alliancebernstein L.P. grew its holdings in Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after acquiring an additional 555,245 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Matador Resources during the 4th quarter valued at about $22,509,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Trading Up 0.1%

Shares of MTDR stock opened at $43.58 on Friday. The company’s 50-day moving average price is $43.87 and its 200-day moving average price is $52.14. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 6.10 and a beta of 1.47. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Matador Resources’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.71 earnings per share. As a group, equities analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources announced that its Board of Directors has initiated a share buyback program on Wednesday, April 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the energy company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $0.3125 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.87%. Matador Resources’s dividend payout ratio is currently 16.78%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, Director Susan M. Ward bought 2,000 shares of Matador Resources stock in a transaction on Tuesday, February 25th. The stock was bought at an average price of $52.81 per share, with a total value of $105,620.00. Following the completion of the acquisition, the director now owns 5,844 shares in the company, valued at $308,621.64. The trade was a 52.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $39.63 per share, with a total value of $99,075.00. Following the completion of the purchase, the chief executive officer now owns 60,756 shares in the company, valued at approximately $2,407,760.28. This represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 25,300 shares of company stock worth $1,113,911 over the last three months. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho dropped their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. UBS Group began coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 target price for the company. 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 report on Thursday, March 27th. KeyCorp reduced their target price on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company reduced their target price on shares of Matador Resources from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.44.

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.