TimesSquare Capital Management LLC Decreases Stake in Matador Resources Company $MTDR

TimesSquare Capital Management LLC lowered its position in Matador Resources Company (NYSE:MTDR) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 383,007 shares of the energy company’s stock after selling 10,225 shares during the period. TimesSquare Capital Management LLC’s holdings in Matador Resources were worth $16,255,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new position in Matador Resources during the 3rd quarter valued at about $61,615,000. Balyasny Asset Management L.P. grew its holdings in Matador Resources by 488.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 477,218 shares of the energy company’s stock valued at $22,773,000 after buying an additional 396,129 shares in the last quarter. UBS Group AG grew its holdings in Matador Resources by 94.6% during the 3rd quarter. UBS Group AG now owns 746,767 shares of the energy company’s stock valued at $33,552,000 after buying an additional 362,970 shares in the last quarter. AQR Capital Management LLC grew its holdings in Matador Resources by 30.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,302,587 shares of the energy company’s stock valued at $62,159,000 after buying an additional 305,352 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Matador Resources by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock valued at $288,079,000 after buying an additional 259,299 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTDR shares. Morgan Stanley reduced their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Wells Fargo & Company boosted their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Mizuho cut their price objective on Matador Resources from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Finally, KeyCorp boosted their price objective on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $63.46.

Matador Resources Stock Up 1.5%

Shares of NYSE MTDR opened at $61.73 on Wednesday. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 15.87 and a beta of 0.81. The business has a 50-day moving average of $59.56 and a 200-day moving average of $49.55.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the previous year, the firm earned $1.99 earnings per share. Matador Resources’s revenue was down 33.8% on a year-over-year basis. Sell-side analysts expect that Matador Resources Company will post 7.42 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be given a $0.375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.4%. Matador Resources’s payout ratio is presently 38.56%.

About Matador Resources

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.