California State Teachers Retirement System Has $8.43 Million Stake in Matador Resources Company $MTDR

California State Teachers Retirement System lifted its holdings in Matador Resources Company (NYSE:MTDR) by 19.4% during the first quarter, HoldingsChannel reports. The firm owned 133,468 shares of the energy company’s stock after purchasing an additional 21,651 shares during the period. California State Teachers Retirement System’s holdings in Matador Resources were worth $8,433,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MTDR. Kestra Investment Management LLC boosted 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 in the last quarter. V Square Quantitative Management LLC acquired a new position in Matador Resources during the 1st quarter worth about $27,000. Measured Wealth Private Client Group LLC bought a new position in Matador Resources in the 3rd quarter valued at $35,000. Center for Financial Planning Inc. bought a new position in shares of Matador Resources in the 1st quarter valued at about $41,000. Finally, Gilpin Wealth Management LLC bought a new position in Matador Resources in the fourth quarter valued at approximately $42,000. Institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts recently commented on MTDR shares. Mizuho upgraded shares of Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. Stephens boosted their price target on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial reduced their price objective on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Citigroup decreased their target price on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Matador Resources Price Performance

Shares of MTDR opened at $48.78 on Wednesday. The firm has a market cap of $6.06 billion, a PE ratio of 12.54 and a beta of 0.76. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The business’s 50 day moving average price is $51.75 and its two-hundred day moving average price is $53.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million for 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 revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.99 earnings per share. On average, equities analysts anticipate that Matador Resources Company will post 6.96 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, August 10th. Matador Resources’s payout ratio is presently 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.