Matador Resources Company $MTDR Stake Lessened by GW&K Investment Management LLC

GW&K Investment Management LLC cut its stake in Matador Resources Company (NYSE:MTDR) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,566,350 shares of the energy company’s stock after selling 119,588 shares during the period. GW&K Investment Management LLC owned 1.26% of Matador Resources worth $70,376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MTDR. Adage Capital Partners GP L.L.C. lifted its position in shares of Matador Resources by 143.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after purchasing an additional 1,505,000 shares during the last quarter. LSV Asset Management lifted its holdings in Matador Resources by 45.7% during the 2nd quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock worth $159,135,000 after buying an additional 1,045,396 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Matador Resources in the 2nd quarter worth approximately $37,194,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Matador Resources by 64.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock valued at $49,459,000 after acquiring an additional 431,010 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of 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 acquiring an additional 396,129 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MTDR shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. KeyCorp reaffirmed an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. Royal Bank Of Canada cut their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Morgan Stanley lowered 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. Finally, TD Cowen upgraded Matador Resources to a “strong-buy” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

Matador Resources Stock Performance

Shares of MTDR stock opened at $53.56 on Thursday. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $55.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 8.78 and a beta of 1.07. The business has a 50 day simple moving average of $45.64 and a 200 day simple moving average of $44.59.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The company had revenue of $847.99 million during the quarter, compared to analysts’ expectations of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 earnings per share. On average, equities research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, February 27th. Matador Resources’s dividend payout ratio is currently 24.59%.

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.