Peregrine Capital Management LLC Buys Shares of 103,473 Matador Resources Company $MTDR

Peregrine Capital Management LLC purchased a new stake in Matador Resources Company (NYSE:MTDR) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 103,473 shares of the energy company’s stock, valued at approximately $6,537,000.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC raised its holdings 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 buying an additional 358 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources during the third quarter worth about $35,000. Gilpin Wealth Management LLC acquired a new stake in shares of Matador Resources during the fourth quarter valued at about $42,000. Geneos Wealth Management Inc. raised its stake in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after acquiring an additional 690 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Matador Resources in the 3rd quarter valued at approximately $49,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Truist Financial raised Matador Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, May 12th. BMO Capital Markets increased their target price on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. TD Cowen lifted their target price on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Finally, Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.38.

Insider Activity at Matador Resources

In other Matador Resources news, CFO Christopher P. Calvert purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price 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 in the company, valued at approximately $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the transaction, the chief executive officer directly owned 11,479 shares in the company, valued at $609,190.53. The trade was a 21.10% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 11,907 shares of company stock worth $635,712 in the last 90 days. 5.90% of the stock is owned by insiders.

Matador Resources Stock Down 1.5%

Shares of NYSE MTDR opened at $49.01 on Thursday. The business has a 50-day moving average price of $55.53 and a 200 day moving average price of $52.08. The stock has a market cap of $6.09 billion, a PE ratio of 12.60 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 earnings per share. Equities research analysts forecast that Matador Resources Company will post 7.25 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a $0.375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.50 annualized dividend and a yield of 3.1%. Matador Resources’s dividend payout ratio is 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.