Quarry LP Acquires 251 Shares of Matador Resources (NYSE:MTDR)

Quarry LP lifted its position in Matador Resources (NYSE:MTDR) by 47.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 779 shares of the energy company’s stock after buying an additional 251 shares during the quarter. Quarry LP’s holdings in Matador Resources were worth $46,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Denver PWM LLC purchased a new stake in Matador Resources in the second quarter valued at approximately $27,000. Covestor Ltd raised its stake in Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Matador Resources during the first quarter worth approximately $34,000. Advisors Asset Management Inc. raised its stake in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after acquiring an additional 466 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in shares of Matador Resources during the fourth quarter worth approximately $54,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

NYSE:MTDR opened at $54.08 on Friday. The stock has a market cap of $6.75 billion, a P/E ratio of 7.41 and a beta of 3.26. The firm’s fifty day simple moving average is $53.97 and its 200 day simple moving average is $59.73. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. 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 released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 net margin of 29.01% and a return on equity of 21.12%. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. As a group, research analysts predict that Matador Resources will post 7.63 EPS for the current year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the transaction, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

MTDR has been the topic of several research reports. Truist Financial decreased their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased 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 note on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research note on Friday, September 27th. TD Cowen lifted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.85.

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.