Oppenheimer Asset Management Inc. Grows Stake in Matador Resources (NYSE:MTDR)

Oppenheimer Asset Management Inc. boosted its stake in Matador Resources (NYSE:MTDR) by 32.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,674 shares of the energy company’s stock after buying an additional 5,992 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Matador Resources were worth $1,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MTDR. Goldman Sachs Group Inc. lifted its position in shares of Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares in the last quarter. Element Capital Management LLC purchased a new position in Matador Resources in the 1st quarter valued at $28,572,000. Public Employees Retirement Association of Colorado boosted its stake in Matador Resources by 14,874.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock worth $24,309,000 after purchasing an additional 424,665 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Matador Resources by 44.8% during the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after buying an additional 329,522 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Matador Resources in the second quarter valued at about $18,747,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MTDR shares. Mizuho dropped their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. TD Cowen upped their target price on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial cut their target price on Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.17.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Gaines Baty acquired 500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the transaction, the director now owns 67,617 shares in the company, valued at approximately $3,420,067.86. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Matador Resources Stock Down 0.5 %

Matador Resources stock opened at $51.70 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a 50 day moving average price of $56.95 and a 200 day moving average price of $60.96. Matador Resources has a fifty-two week low of $48.22 and a fifty-two week high of $71.08. The company has a market capitalization of $6.45 billion, a PE ratio of 7.08 and a beta of 3.27.

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

Matador Resources Dividend Announcement

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

Matador Resources Company Profile

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.