New York State Teachers Retirement System Raises Holdings in Matador Resources (NYSE:MTDR)

New York State Teachers Retirement System increased its holdings in Matador Resources (NYSE:MTDR) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 135,477 shares of the energy company’s stock after acquiring an additional 2,881 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Matador Resources worth $7,622,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after buying an additional 207 shares during the period. True Wealth Design LLC purchased a new position in shares of Matador Resources during the third quarter worth $37,000. Denver PWM LLC boosted its position in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after buying an additional 303 shares during the period. Avior Wealth Management LLC boosted its position in shares of Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares during the period. Finally, Covestor Ltd boosted its position in shares of Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after buying an additional 644 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Down 2.1 %

Matador Resources stock opened at $56.60 on Thursday. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The stock has a market cap of $7.06 billion, a PE ratio of 7.50 and a beta of 3.22. The stock’s fifty day moving average is $58.25 and its two-hundred day moving average is $55.78.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. On average, sell-side analysts expect that Matador Resources will post 7.39 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is 13.25%.

Insider Transactions at Matador Resources

In other news, EVP William Thomas Elsener bought 800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the acquisition, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,980 shares of company stock worth $165,988. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

MTDR has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Wednesday, January 15th. Wells Fargo & Company raised their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. TD Cowen raised their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Truist Financial lifted their target price on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Stephens lifted their target price on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus price target of $75.14.

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.