TimesSquare Capital Management LLC Acquires Shares of 342,759 Matador Resources Company $MTDR

TimesSquare Capital Management LLC acquired a new position in Matador Resources Company (NYSE:MTDR) in the 2nd quarter, Holdings Channel reports. The firm acquired 342,759 shares of the energy company’s stock, valued at approximately $17,063,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Matador Resources during the 1st quarter valued at about $27,000. Kestra Investment Management LLC raised its stake in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after buying an additional 358 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in Matador Resources in the first quarter worth about $41,000. Altshuler Shaham Ltd lifted its holdings in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after buying an additional 201 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in Matador Resources during the 3rd quarter valued at approximately $35,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MTDR. Wall Street Zen raised Matador Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial decreased their price objective on Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Matador Resources in a research report on Friday, August 7th. Finally, Morgan Stanley dropped their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.07.

Matador Resources Trading Up 4.0%

Matador Resources stock opened at $55.84 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84. The stock has a market capitalization of $6.91 billion, a PE ratio of 9.58 and a beta of 0.76. The business’s fifty day moving average is $51.14 and its 200 day moving average is $54.13.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.Matador Resources’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 EPS. On average, sell-side analysts predict that Matador Resources Company will post 7.11 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.7%. Matador Resources’s payout ratio is currently 25.73%.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener bought 850 shares of the business’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $50.94 per share, with a total value of $43,299.00. Following the transaction, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher P. Calvert bought 1,500 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $53.24 per share, with a total value of $79,860.00. Following the completion of the purchase, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 31,596 shares of company stock valued at $1,654,207 over the last ninety days. Company insiders own 5.90% of the company’s stock.

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.