Dockside LLC Makes New Investment in Matador Resources Company $MTDR

Dockside LLC purchased a new position in shares of Matador Resources Company (NYSE:MTDR) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 188,726 shares of the energy company’s stock, valued at approximately $8,010,000. Matador Resources comprises 2.1% of Dockside LLC’s holdings, making the stock its 5th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC lifted its holdings in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares during the period. Rothschild Investment LLC increased its stake in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources in the 3rd quarter valued at $35,000. Gilpin Wealth Management LLC bought a new position in shares of Matador Resources in the 4th quarter valued at $42,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Transactions at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson acquired 500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the transaction, the chief operating officer owned 95,470 shares in the company, valued at approximately $5,099,052.70. The trade was a 0.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 4,675 shares of the stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $52.36 per share, with a total value of $244,783.00. Following the completion of the transaction, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. This represents a 201.34% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 11,907 shares of company stock valued at $635,712. Corporate insiders own 5.90% of the company’s stock.

Matador Resources Stock Up 0.7%

Shares of MTDR opened at $53.98 on Friday. The company has a market capitalization of $6.70 billion, a PE ratio of 13.88 and a beta of 0.74. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The stock’s 50-day moving average price is $58.08 and its two-hundred day moving average price is $51.41. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. During the same period in the previous year, the business earned $1.99 EPS. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. On average, analysts anticipate that Matador Resources Company will post 7.5 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio (DPR) is 38.56%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MTDR shares. TD Cowen lifted their price target on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Truist Financial raised Matador Resources from a “hold” rating to a “buy” rating and raised their price objective for the company from $60.00 to $67.00 in a report on Tuesday, May 12th. Citigroup cut their price objective on Matador Resources from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Morgan Stanley raised their price objective on Matador Resources from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Finally, Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.08.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.