MQS Management LLC Buys Shares of 11,422 Matador Resources Company $MTDR

MQS Management LLC purchased a new stake in shares of Matador Resources Company (NYSE:MTDR) in the first quarter, HoldingsChannel.com reports. The fund purchased 11,422 shares of the energy company’s stock, valued at approximately $722,000.

Other institutional investors have also modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Matador Resources in the 3rd quarter worth approximately $61,615,000. Wellington Management Group LLP boosted its position in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Matador Resources in the fourth quarter valued at $53,249,000. Balyasny Asset Management L.P. increased its position in shares of Matador Resources by 2,495.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after buying an additional 531,551 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Matador Resources by 12.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock valued at $142,853,000 after buying an additional 385,000 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Wells Fargo & Company raised their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Roth Mkm raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Monday, June 22nd. Finally, Truist Financial upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and increased their price target for the company from $60.00 to $67.00 in a research report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.38.

Insider Activity

In other news, COO Glenn W. Stetson acquired 500 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the purchase, the chief operating officer owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher P. Calvert bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the transaction, the chief financial officer owned 41,500 shares of the company’s stock, valued at $2,209,460. The trade was a 3.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 11,907 shares of company stock valued at $635,712 over the last 90 days. Insiders own 5.90% of the company’s stock.

Matador Resources Trading Up 0.1%

Matador Resources stock opened at $49.80 on Wednesday. The stock has a market cap of $6.18 billion, a PE ratio of 12.80 and a beta of 0.74. The stock has a 50-day moving average price of $55.68 and a 200 day moving average price of $52.05. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.99 EPS. Equities research analysts predict that Matador Resources Company will post 7.23 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. Matador Resources’s payout ratio is currently 38.56%.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.