Morningstar Investment Management LLC Makes New $2.63 Million Investment in Matador Resources Company $MTDR

Morningstar Investment Management LLC acquired a new position in Matador Resources Company (NYSE:MTDR) during the first quarter, HoldingsChannel reports. The institutional investor acquired 41,627 shares of the energy company’s stock, valued at approximately $2,630,000.

Several other hedge funds have also recently made changes to their positions in the business. Kestra Investment Management LLC lifted its stake in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares during the period. V Square Quantitative Management LLC purchased a new position in Matador Resources during the 1st quarter valued at $27,000. Measured Wealth Private Client Group LLC bought a new position in Matador Resources in the 3rd quarter worth $35,000. Center for Financial Planning Inc. bought a new position in Matador Resources in the 1st quarter worth $41,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Matador Resources in the 4th quarter worth about $42,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Down 1.6%

Shares of Matador Resources stock opened at $50.88 on Friday. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 13.08 and a beta of 0.74. The company has a 50-day moving average of $53.10 and a 200 day moving average of $53.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period last year, the business earned $1.99 earnings per share. The business’s revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Matador Resources Company will post 6.83 earnings per share 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 paid a dividend of $0.375 per share. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.9%. Matador Resources’s payout ratio is presently 38.56%.

Insiders Place Their Bets

In other news, CFO Christopher P. Calvert acquired 1,500 shares of Matador Resources stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Glenn W. Stetson bought 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 11,907 shares of company stock valued at $635,712. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of 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. UBS Group lowered their price objective on shares of Matador Resources from $62.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Weiss Ratings cut Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. BMO Capital Markets upped their target price on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, Zacks Research cut 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. According to MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus price target of $64.08.

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.