Seven Eight Capital LP Invests $871,000 in Matador Resources (NYSE:MTDR)

Seven Eight Capital LP acquired a new stake in Matador Resources (NYSE:MTDR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,613 shares of the energy company’s stock, valued at approximately $871,000.

Several other large investors have also recently added to or reduced their stakes in MTDR. Vanguard Group Inc. boosted its position in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after buying an additional 103,713 shares during the period. Dimensional Fund Advisors LP grew its stake in Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares during the period. Clearbridge Investments LLC raised its position in Matador Resources by 11.8% in the 1st quarter. Clearbridge Investments LLC now owns 2,035,702 shares of the energy company’s stock valued at $135,924,000 after purchasing an additional 215,298 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of Matador Resources by 7.3% in the 1st quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock valued at $78,575,000 after buying an additional 79,920 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

NYSE:MTDR opened at $52.20 on Friday. The company has a market capitalization of $6.51 billion, a PE ratio of 7.15 and a beta of 3.27. Matador Resources has a 52-week low of $48.22 and a 52-week high of $71.08. The stock’s 50 day moving average price is $56.40 and its 200 day moving average price is $60.76. The company has a quick ratio of 0.82, a current ratio of 0.86 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. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same period last year, the firm posted $1.42 earnings per share. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. On average, research analysts anticipate that Matador Resources will post 7.83 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.53%. Matador Resources’s dividend payout ratio is presently 10.96%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MTDR. Mizuho cut their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Stephens reduced their price objective on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Truist Financial lowered their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research initiated coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.17.

Insider Activity

In related news, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 12,300 shares of company stock valued at $634,615. Insiders own 6.10% of the company’s stock.

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.