Wasatch Advisors LP Increases Stock Position in Matador Resources (NYSE:MTDR)

Wasatch Advisors LP lifted its holdings in Matador Resources (NYSE:MTDR) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,176,802 shares of the energy company’s stock after buying an additional 79,920 shares during the period. Wasatch Advisors LP owned about 0.98% of Matador Resources worth $78,575,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MTDR. Vanguard Personalized Indexing Management LLC increased its stake in shares of Matador Resources by 32.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 23,221 shares of the energy company’s stock worth $1,320,000 after acquiring an additional 5,747 shares during the period. Wedge Capital Management L L P NC raised its stake in Matador Resources by 31.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock worth $5,237,000 after purchasing an additional 21,924 shares during the period. TFO Wealth Partners LLC raised its stake in Matador Resources by 310,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 15,551 shares of the energy company’s stock worth $884,000 after purchasing an additional 15,546 shares during the period. Burford Brothers Inc. acquired a new stake in shares of Matador Resources during the fourth quarter valued at about $1,535,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Matador Resources by 31.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insider Transactions at Matador Resources

In related news, EVP Bryan A. Erman bought 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the transaction, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Matador Resources Stock Performance

Shares of MTDR traded up $0.25 during mid-day trading on Tuesday, hitting $59.93. The company’s stock had a trading volume of 1,403,198 shares, compared to its average volume of 1,522,390. Matador Resources has a one year low of $49.12 and a one year high of $71.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.84 and a current ratio of 0.89. The firm has a market capitalization of $7.48 billion, a PE ratio of 8.21 and a beta of 3.29. The stock’s 50-day moving average is $60.93 and its two-hundred day moving average is $60.82.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. The company had revenue of $787.70 million during the quarter, compared to analyst estimates of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. As a group, sell-side analysts anticipate that Matador Resources will post 7.86 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. Matador Resources’s dividend payout ratio is currently 10.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTDR shares. JPMorgan Chase & Co. increased their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. KeyCorp raised their target price on shares of Matador Resources from $71.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. TD Cowen lifted their price target on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Mizuho raised their target price on shares of Matador Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company lifted their price target on shares of Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $76.09.

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.