Hodges Capital Management Inc. Acquires 73,609 Shares of Matador Resources Company $MTDR

Hodges Capital Management Inc. lifted its holdings in Matador Resources Company (NYSE:MTDR) by 15.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 560,084 shares of the energy company’s stock after buying an additional 73,609 shares during the quarter. Matador Resources makes up about 2.6% of Hodges Capital Management Inc.’s holdings, making the stock its 5th largest holding. Hodges Capital Management Inc.’s holdings in Matador Resources were worth $26,727,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Matador Resources by 298.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after buying an additional 400 shares during the period. MCF Advisors LLC acquired a new stake in shares of Matador Resources during the first quarter worth $26,000. MassMutual Private Wealth & Trust FSB lifted its position in Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Allworth Financial LP lifted its position in Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after acquiring an additional 364 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Matador Resources in the 2nd quarter worth $29,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $39.43 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.69 and a current ratio of 0.73. The stock has a 50 day moving average price of $44.37 and a 200 day moving average price of $46.21. The stock has a market capitalization of $4.90 billion, a PE ratio of 6.30 and a beta of 1.35. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.14. The company had revenue of $939.02 million for the quarter, compared to analysts’ expectations of $893.22 million. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. Analysts predict that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 10th will be paid a $0.375 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, November 10th. Matador Resources’s dividend payout ratio is 23.96%.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $38.44 per share, with a total value of $153,760.00. Following the transaction, the chief executive officer directly owned 22,867 shares in the company, valued at approximately $879,007.48. The trade was a 21.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan M. Ward bought 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $39.04 per share, for a total transaction of $195,200.00. Following the completion of the acquisition, the director owned 14,923 shares in the company, valued at $582,593.92. This trade represents a 50.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 40,726 shares of company stock valued at $1,652,079. 5.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MTDR. Royal Bank Of Canada lifted their price target on Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. KeyCorp dropped their target price on Matador Resources from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Wells Fargo & Company cut their target price on Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Morgan Stanley decreased their price target on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $55.00 price objective (down from $63.00) on shares of Matador Resources in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

About Matador Resources

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.