Texas Permanent School Fund Corp Purchases 37,464 Shares of Matador Resources Company $MTDR

Texas Permanent School Fund Corp increased its position in Matador Resources Company (NYSE:MTDR) by 39.5% in the second quarter, Holdings Channel.com reports. The fund owned 132,396 shares of the energy company’s stock after purchasing an additional 37,464 shares during the period. Texas Permanent School Fund Corp’s holdings in Matador Resources were worth $6,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased its holdings in shares of Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after purchasing an additional 1,505,000 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Matador Resources by 45.7% during the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after purchasing an additional 1,045,396 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Matador Resources during the second quarter valued at $37,194,000. Wellington Management Group LLP increased its holdings in Matador Resources by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company’s stock worth $104,413,000 after buying an additional 477,236 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Matador Resources by 488.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 477,218 shares of the energy company’s stock worth $22,773,000 after buying an additional 396,129 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. William Blair started coverage on shares of Matador Resources in a report on Monday, August 25th. They set an “outperform” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research report on Tuesday, October 14th. Morgan Stanley dropped their target price on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. UBS Group boosted their target price on shares of Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Royal Bank Of Canada increased their price target on Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average cost of $38.14 per share, for a total transaction of $38,140.00. Following the purchase, the chief executive officer owned 23,867 shares in the company, valued at $910,287.38. The trade was a 4.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert T. Macalik bought 1,500 shares of Matador Resources stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of $38.25 per share, with a total value of $57,375.00. Following the completion of the acquisition, the executive vice president directly owned 35,039 shares in the company, valued at $1,340,241.75. This represents a 4.47% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 37,346 shares of company stock valued at $1,463,396. 5.80% of the stock is currently owned by corporate insiders.

Matador Resources Stock Down 4.3%

Shares of MTDR stock opened at $41.36 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $64.04. The stock has a market cap of $5.14 billion, a P/E ratio of 6.61 and a beta of 1.11. The company has a 50 day simple moving average of $41.76 and a two-hundred day simple moving average of $46.13.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. The business had revenue of $939.02 million for the quarter, compared to analysts’ expectations of $893.22 million. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. On average, research analysts expect that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 10th were issued a dividend of $0.375 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, November 10th. Matador Resources’s dividend payout ratio is presently 23.96%.

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.