Louisiana State Employees Retirement System Increases Stock Holdings in Matador Resources (NYSE:MTDR)

Louisiana State Employees Retirement System lifted its position in Matador Resources (NYSE:MTDR) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,800 shares of the energy company’s stock after purchasing an additional 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Matador Resources were worth $1,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTDR. Essex Investment Management Co. LLC lifted its holdings in shares of Matador Resources by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after acquiring an additional 169 shares during the last quarter. Securian Asset Management Inc. raised its position in Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares during the period. Atria Wealth Solutions Inc. raised its position in Matador Resources by 5.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after purchasing an additional 195 shares during the period. Covestor Ltd lifted its stake in Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after buying an additional 243 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 4,250 shares of company stock worth $236,995. 6.10% of the stock is owned by insiders.

Matador Resources Price Performance

MTDR opened at $57.31 on Friday. Matador Resources has a 12-month low of $50.79 and a 12-month high of $71.08. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 7.85 and a beta of 3.29. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $58.87 and a two-hundred day simple moving average of $61.62.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results 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 company had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. During the same period last year, the company posted $1.42 EPS. Matador Resources’s revenue was up 32.8% on a year-over-year basis. Research analysts predict that Matador Resources will post 7.87 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stephens decreased their price objective on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Truist Financial decreased their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Mizuho upped their price target on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.17.

About Matador Resources

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.