Principal Financial Group Inc. Acquires 9,531 Shares of Matador Resources Company $MTDR

Principal Financial Group Inc. lifted its stake in Matador Resources Company (NYSE:MTDR) by 3.8% during the 1st quarter, HoldingsChannel reports. The fund owned 260,756 shares of the energy company’s stock after buying an additional 9,531 shares during the period. Principal Financial Group Inc.’s holdings in Matador Resources were worth $16,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC boosted its holdings in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the period. V Square Quantitative Management LLC acquired a new stake in Matador Resources in the 1st quarter worth $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources during the 3rd quarter worth about $35,000. Gilpin Wealth Management LLC bought a new position in shares of Matador Resources during the 4th quarter worth about $42,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after buying an additional 690 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

NYSE MTDR opened at $55.06 on Thursday. The stock has a market cap of $6.84 billion, a P/E ratio of 14.15 and a beta of 0.74. The company’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 quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 earnings per share. As a group, research analysts forecast that Matador Resources Company will post 6.84 earnings per share for the current fiscal year.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran bought 4,675 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $52.36 per share, with a total value of $244,783.00. Following the acquisition, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. This represents a 201.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher P. Calvert bought 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $53.24 per share, with a total value of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares in the company, valued at $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 11,907 shares of company stock valued at $635,712. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MTDR shares. Mizuho increased their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, June 22nd. Wells Fargo & Company raised their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Morgan Stanley decreased their price objective on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Finally, Citigroup lowered their price objective on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

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.