Heartland Advisors Inc. Reduces Position in Matador Resources Company $MTDR

Heartland Advisors Inc. decreased its holdings in Matador Resources Company (NYSE:MTDR) by 27.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,283 shares of the energy company’s stock after selling 57,896 shares during the quarter. Heartland Advisors Inc.’s holdings in Matador Resources were worth $9,621,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MTDR. Harbor Capital Advisors Inc. raised its position in shares of Matador Resources by 184.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock valued at $1,309,000 after purchasing an additional 20,011 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Matador Resources by 25.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock worth $3,312,000 after buying an additional 15,859 shares in the last quarter. Peterson Wealth Services increased its stake in shares of Matador Resources by 333.7% in the fourth quarter. Peterson Wealth Services now owns 51,356 shares of the energy company’s stock worth $2,180,000 after buying an additional 39,516 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Matador Resources by 2.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,054,232 shares of the energy company’s stock worth $44,742,000 after buying an additional 21,630 shares during the last quarter. Finally, Value Holdings Management CO. LLC raised its holdings in Matador Resources by 10.9% in the fourth quarter. Value Holdings Management CO. LLC now owns 768,308 shares of the energy company’s stock valued at $32,607,000 after acquiring an additional 75,300 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

MTDR has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Truist Financial dropped their target price on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday. Mizuho upped their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Roth Capital 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 research report on Monday, June 22nd. Finally, Wells Fargo & Company lifted their price target on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.08.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $53.07 per share, with a total value of $106,140.00. Following the completion of the acquisition, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. The trade was a 21.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was bought 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 $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 11,907 shares of company stock valued at $635,712 in the last quarter. Insiders own 5.90% of the company’s stock.

Matador Resources Stock Performance

MTDR stock opened at $53.81 on Friday. The stock’s 50 day simple moving average is $53.56 and its 200 day simple moving average is $52.83. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84. The firm has a market cap of $6.68 billion, a P/E ratio of 13.83 and a beta of 0.74. 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 released 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.99 earnings per share. As a group, equities research analysts predict that Matador Resources Company will post 6.99 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s payout ratio is 38.56%.

Matador Resources Company Profile

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.