Goehring & Rozencwajg Associates LLC Boosts Holdings in Matador Resources (NYSE:MTDR)

Goehring & Rozencwajg Associates LLC raised its stake in shares of Matador Resources (NYSE:MTDR) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 272,072 shares of the energy company’s stock after purchasing an additional 27,300 shares during the quarter. Matador Resources accounts for about 3.2% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 9th biggest position. Goehring & Rozencwajg Associates LLC owned about 0.22% of Matador Resources worth $16,215,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Essex Investment Management Co. LLC boosted its position in shares of Matador Resources by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after acquiring an additional 169 shares in the last quarter. Securian Asset Management Inc. boosted its position in shares of Matador Resources by 1.9% during the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after acquiring an additional 198 shares in the last quarter. Covestor Ltd boosted its position in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after acquiring an additional 227 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of MTDR stock opened at $51.70 on Thursday. Matador Resources has a 1 year low of $48.22 and a 1 year high of $71.08. The firm’s 50 day moving average is $56.79 and its 200-day moving average is $60.89. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 7.08 and a beta of 3.27. 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 announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 earnings per share. Sell-side analysts forecast that Matador Resources will post 7.83 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.55%. Matador Resources’s dividend payout ratio is currently 10.96%.

Analyst Ratings Changes

MTDR has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, July 24th. Wolfe Research began coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, TD Cowen boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.17.

Insider Activity at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction 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 acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders have acquired 12,300 shares of company stock worth $634,615 over the last ninety days. Company insiders own 6.10% of the company’s stock.

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.