Legacy Wealth Management LLC MS Has $1.37 Million Stock Position in Matador Resources Company $MTDR

Legacy Wealth Management LLC MS lowered its position in shares of Matador Resources Company (NYSE:MTDR) by 49.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,625 shares of the energy company’s stock after selling 28,330 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Matador Resources were worth $1,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its position in Matador Resources by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company’s stock valued at $2,835,000 after acquiring an additional 244 shares during the last quarter. State of Wyoming grew its holdings in shares of Matador Resources by 11.6% during the fourth quarter. State of Wyoming now owns 2,772 shares of the energy company’s stock worth $156,000 after purchasing an additional 288 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Matador Resources by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company’s stock worth $1,420,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Matador Resources by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company’s stock worth $1,660,000 after purchasing an additional 300 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Matador Resources by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company’s stock worth $555,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 5,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, with a total value of $245,850.00. Following the completion of the purchase, the chief executive officer owned 6,606 shares in the company, valued at $324,817.02. This represents a 311.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.80% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR stock opened at $47.72 on Friday. The business’s 50 day simple moving average is $49.23 and its 200 day simple moving average is $46.94. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The stock has a market capitalization of $5.94 billion, a PE ratio of 6.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

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

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.3125 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.6%. Matador Resources’s payout ratio is 18.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTDR. Raymond James Financial boosted their price target on Matador Resources from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Bank of America began coverage on Matador Resources in a report on Monday, May 19th. They set a “buy” rating and a $56.00 price target on the stock. UBS Group reduced their price target on Matador Resources from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Morgan Stanley boosted their price target on Matador Resources from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. Finally, Wells Fargo & Company reduced their target price on Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.53.

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.