Matador Resources Company $MTDR Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Matador Resources Company (NYSE:MTDR) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 260,756 shares of the energy company’s stock after purchasing an additional 9,531 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of Matador Resources worth $16,475,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MTDR. Kestra Investment Management LLC lifted its position 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 valued at $25,000 after acquiring an additional 358 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources in the 1st quarter worth $27,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Matador Resources in the 3rd quarter worth $35,000. Gilpin Wealth Management LLC acquired a new stake in shares of Matador Resources during the fourth quarter worth $42,000. Finally, Geneos Wealth Management Inc. increased its stake in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Up 1.8%

Shares of MTDR stock opened at $55.06 on Thursday. The stock’s 50 day simple moving average is $53.41 and its 200 day simple moving average is $53.16. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 14.15 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last announced its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $871.57 million. During the same quarter in the prior year, the business earned $1.99 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. As a group, research analysts predict that Matador Resources Company will post 6.84 EPS for the current year.

Analyst Upgrades and Downgrades

MTDR has been the topic of several research reports. Citigroup dropped their price objective on shares of Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, June 22nd. Morgan Stanley decreased their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Finally, UBS Group cut their price target on shares of Matador Resources from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.08.

Insider Transactions at Matador Resources

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

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.