Matador Resources Company $MTDR Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. raised its position in Matador Resources Company (NYSE:MTDR) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,264 shares of the energy company’s stock after purchasing an additional 61,050 shares during the quarter. Matador Resources makes up approximately 3.2% of Hodges Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Hodges Capital Management Inc.’s holdings in Matador Resources were worth $38,367,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Matador Resources during the 3rd quarter valued at about $61,615,000. Wellington Management Group LLP grew its stake in shares of Matador Resources by 65.0% in 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 buying an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Matador Resources in the fourth quarter worth approximately $53,249,000. Balyasny Asset Management L.P. increased its holdings in 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 position in Matador Resources by 12.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock valued at $142,853,000 after acquiring an additional 385,000 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson purchased 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost 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 approximately $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Christopher P. Calvert purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $53.24 per share, with a total value of $79,860.00. Following the completion of the acquisition, the chief financial officer directly 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 SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 11,907 shares of company stock valued at $635,712. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MTDR shares. BMO Capital Markets lifted their target price on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Roth Mkm upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, June 22nd. Mizuho raised their price target on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. KeyCorp lifted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Finally, Truist Financial upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $64.38.

Matador Resources Stock Down 0.0%

Shares of MTDR opened at $50.16 on Monday. The company has a 50-day simple moving average of $55.15 and a 200-day simple moving average of $52.17. The firm has a market capitalization of $6.23 billion, a P/E ratio of 12.89 and a beta of 0.74. 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 Company has a 52 week low of $37.14 and a 52 week high of $66.84.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 earnings per share. On average, equities research analysts expect that Matador Resources Company will post 7.25 earnings per share for the current 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 of this dividend was Friday, May 8th. Matador Resources’s dividend payout ratio is currently 38.56%.

Matador Resources 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.