298,756 Shares in Matador Resources Company $MTDR Purchased by Madison Asset Management LLC

Madison Asset Management LLC bought a new stake in shares of Matador Resources Company (NYSE:MTDR) in the second quarter, Holdings Channel reports. The fund bought 298,756 shares of the energy company’s stock, valued at approximately $14,872,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC raised its stake in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Matador Resources during the 1st quarter worth $27,000. Measured Wealth Private Client Group LLC acquired a new stake in Matador Resources during the 3rd quarter worth $35,000. Center for Financial Planning Inc. purchased a new stake in shares of Matador Resources during the first quarter worth $41,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Matador Resources during the fourth quarter worth $42,000. 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 the stock. Stephens raised their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped their price target on Matador Resources from $63.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Mizuho raised Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. UBS Group increased their price target on Matador Resources from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Morgan Stanley reduced their price objective on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and a consensus target price of $66.07.

Matador Resources Trading Up 1.3%

Shares of MTDR stock opened at $57.98 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. The stock has a market capitalization of $7.17 billion, a P/E ratio of 9.94 and a beta of 0.76. The company has a 50 day moving average price of $51.27 and a 200 day moving average price of $54.31. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $1.53 EPS. Matador Resources’s revenue was up 32.5% on a year-over-year basis. Equities research analysts predict that Matador Resources Company will post 7.19 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Insider Activity at Matador Resources

In related news, CFO Christopher P. Calvert purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Thomas Elsener bought 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the acquisition, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. The trade was a 0.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 31,996 shares of company stock worth $1,675,663 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

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.