Matador Resources Company $MTDR Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its stake in shares of Matador Resources Company (NYSE:MTDR) by 99.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,336 shares of the energy company’s stock after selling 661,225 shares during the quarter. Wasatch Advisors LP’s holdings in Matador Resources were worth $274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in Matador Resources in the 3rd quarter worth approximately $61,615,000. Wellington Management Group LLP increased its stake in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Matador Resources during the 4th quarter valued at approximately $53,249,000. Balyasny Asset Management L.P. raised its holdings in shares of Matador Resources by 2,495.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after buying an additional 531,551 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Matador Resources by 12.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock worth $142,853,000 after buying an additional 385,000 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matador Resources

In other news, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran purchased 4,675 shares of the stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the purchase, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. The trade was a 201.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 11,907 shares of company stock valued at $635,712 over the last quarter. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTDR. Truist Financial raised shares of Matador Resources from a “hold” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $67.00 in a report on Tuesday, May 12th. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Morgan Stanley boosted their price target on Matador Resources from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Finally, Roth Mkm upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, June 22nd. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.08.

Matador Resources Stock Performance

MTDR opened at $49.88 on Friday. The firm’s fifty day simple moving average is $55.98 and its two-hundred day simple moving average is $51.93. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 12.82 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. During the same quarter in the previous year, the company earned $1.99 earnings per share. The company’s quarterly revenue was down 33.8% on a year-over-year basis. Equities analysts anticipate that Matador Resources Company will post 7.45 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 8th. Matador Resources’s payout ratio is 38.56%.

Matador Resources Company Profile

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.