Madison Asset Management LLC Acquires 59,699 Shares of Matador Resources Company $MTDR

Madison Asset Management LLC raised its holdings in shares of Matador Resources Company (NYSE:MTDR) by 27.0% in the 1st quarter, HoldingsChannel reports. The firm owned 280,699 shares of the energy company’s stock after buying an additional 59,699 shares during the period. Madison Asset Management LLC’s holdings in Matador Resources were worth $17,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTDR. Burford Brothers Inc. raised its holdings in Matador Resources by 0.8% in the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after acquiring an additional 225 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Matador Resources by 2.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after acquiring an additional 254 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Matador Resources by 3.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after acquiring an additional 278 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC grew its position in shares of Matador Resources by 1.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 23,240 shares of the energy company’s stock valued at $1,468,000 after purchasing an additional 304 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Citigroup lowered their price target on shares of Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday. Mizuho lifted their price objective on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley cut their price objective on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Finally, Wells Fargo & Company increased their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.77.

Matador Resources Trading Down 0.5%

MTDR opened at $53.51 on Tuesday. The company’s 50 day moving average is $53.51 and its 200-day moving average is $52.99. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.64 billion, a P/E ratio of 13.76 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.99 EPS. Equities research analysts predict that Matador Resources Company will post 6.99 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio is 38.56%.

Insider Transactions at Matador Resources

In other news, CFO Christopher P. Calvert acquired 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Glenn W. Stetson acquired 500 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, for a total transaction of $26,705.00. Following 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 11,907 shares of company stock worth $635,712. Corporate insiders own 5.90% of the company’s stock.

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.