Edgestream Partners L.P. Makes New $5.67 Million Investment in Matador Resources (NYSE:MTDR)

Edgestream Partners L.P. bought a new stake in shares of Matador Resources (NYSE:MTDR) during the second quarter, HoldingsChannel reports. The firm bought 95,118 shares of the energy company’s stock, valued at approximately $5,669,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Denver PWM LLC purchased a new stake in Matador Resources in the second quarter worth about $27,000. Covestor Ltd boosted its position in shares of Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Matador Resources in the 1st quarter worth approximately $34,000. Lindbrook Capital LLC increased its position in Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after buying an additional 273 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after buying an additional 466 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

Shares of MTDR opened at $50.40 on Tuesday. The firm has a market capitalization of $6.29 billion, a P/E ratio of 6.88 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a one year low of $48.22 and a one year high of $71.08. The business has a fifty day moving average of $57.26 and a 200 day moving average of $61.14.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. During the same period in the previous year, the company posted $1.42 EPS. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Matador Resources will post 7.83 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stephens cut their target price on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a report on Thursday, July 25th. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.17.

Insider Activity

In related news, CAO Robert T. Macalik bought 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders acquired a total of 11,800 shares of company stock valued at $609,325 in the last 90 days. Company insiders own 6.10% of the company’s stock.

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.