Matador Resources (NYSE:MTDR) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Matador Resources (NYSE:MTDR) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,905 shares of the energy company’s stock after acquiring an additional 9,371 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Matador Resources were worth $11,795,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MTDR. Denver PWM LLC acquired a new position in shares of Matador Resources in the 2nd quarter valued at about $27,000. Covestor Ltd raised its holdings in Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares during the period. Rise Advisors LLC acquired a new position in Matador Resources during the first quarter valued at approximately $34,000. Advisors Asset Management Inc. grew its stake in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares during the period. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Matador Resources in the fourth quarter worth $54,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTDR has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial decreased their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Mizuho decreased their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.67.

Matador Resources Stock Performance

MTDR opened at $50.49 on Wednesday. The business has a fifty day simple moving average of $54.70 and a 200-day simple moving average of $60.09. The firm has a market cap of $6.30 billion, a PE ratio of 6.92 and a beta of 3.27. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 earnings per share. As a group, equities analysts predict that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. Matador Resources’s payout ratio is presently 10.96%.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the transaction, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Matador Resources news, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The disclosure for this purchase can be found here. Insiders acquired a total of 12,300 shares of company stock worth $634,615 over the last three months. 6.10% of the stock is currently owned by insiders.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.