Teachers Retirement System of The State of Kentucky Acquires 11,003 Shares of Matador Resources Company $MTDR

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Matador Resources Company (NYSE:MTDR) by 16.8% in the first quarter, Holdings Channel reports. The institutional investor owned 76,382 shares of the energy company’s stock after acquiring an additional 11,003 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Matador Resources were worth $4,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in shares of Matador Resources in the 3rd quarter worth $61,615,000. Wellington Management Group LLP boosted its position in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Matador Resources in the fourth quarter valued at about $53,249,000. Balyasny Asset Management L.P. grew its stake in Matador Resources by 2,495.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after purchasing an additional 531,551 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Matador Resources by 12.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock worth $142,853,000 after purchasing an additional 385,000 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Price Performance

Shares of MTDR stock opened at $52.48 on Wednesday. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 13.49 and a beta of 0.74. The stock’s 50-day simple moving average is $53.75 and its 200-day simple moving average is $52.67.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. Matador Resources’s revenue was down 33.8% on a year-over-year basis. During the same period last year, the firm posted $1.99 EPS. As a group, equities analysts forecast that Matador Resources Company will post 7.06 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 8th. Matador Resources’s payout ratio is presently 38.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MTDR. KeyCorp raised their price target on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Monday, June 22nd. Wells Fargo & Company raised their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Mizuho lifted their price target on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, TD Cowen upped their price target on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.38.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $53.07 per share, with a total value of $106,140.00. Following the completion of the acquisition, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at $609,190.53. This represents a 21.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher P. Calvert bought 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the transaction, the chief financial officer owned 41,500 shares in the company, valued at $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 11,907 shares of company stock worth $635,712. Company insiders own 5.90% of the company’s stock.

Matador Resources 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.