LSV Asset Management Acquires 126,700 Shares of Matador Resources (NYSE:MTDR)

LSV Asset Management lifted its holdings in shares of Matador Resources (NYSE:MTDR) by 54.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,800 shares of the energy company’s stock after acquiring an additional 126,700 shares during the quarter. LSV Asset Management owned approximately 0.29% of Matador Resources worth $21,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. M&T Bank Corp grew its stake in Matador Resources by 10.2% in the fourth quarter. M&T Bank Corp now owns 6,658 shares of the energy company’s stock worth $378,000 after purchasing an additional 616 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Matador Resources by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,480,882 shares of the energy company’s stock worth $84,203,000 after purchasing an additional 52,005 shares during the period. BNP Paribas Financial Markets grew its stake in Matador Resources by 197.2% in the fourth quarter. BNP Paribas Financial Markets now owns 137,194 shares of the energy company’s stock worth $7,801,000 after purchasing an additional 91,030 shares during the period. Jump Financial LLC grew its stake in Matador Resources by 208.3% in the fourth quarter. Jump Financial LLC now owns 19,846 shares of the energy company’s stock worth $1,128,000 after purchasing an additional 13,408 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Matador Resources by 7.4% in the fourth quarter. QRG Capital Management Inc. now owns 4,422 shares of the energy company’s stock worth $251,000 after purchasing an additional 306 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Down 1.4 %

Matador Resources stock opened at $49.19 on Wednesday. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 6.74 and a beta of 3.27. Matador Resources has a 12-month low of $48.83 and a 12-month high of $71.08. The firm has a 50 day moving average of $57.87 and a 200 day moving average of $61.40. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. As a group, research analysts predict that Matador Resources will post 7.83 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.63%. Matador Resources’s payout ratio is 10.96%.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan A. Erman purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the purchase, the executive vice president now owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. The disclosure for this purchase can be found here. Insiders purchased a total of 9,750 shares of company stock valued at $516,895 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTDR has been the topic of several recent research reports. Wolfe Research initiated coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial reduced their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Stephens cut their target price on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company increased their target price on Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.17.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.