Fisher Asset Management LLC Buys 12,728 Shares of Matador Resources Company $MTDR

Fisher Asset Management LLC boosted its stake in shares of Matador Resources Company (NYSE:MTDR) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 691,249 shares of the energy company’s stock after purchasing an additional 12,728 shares during the period. Fisher Asset Management LLC’s holdings in Matador Resources were worth $29,337,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. bought a new stake in Matador Resources during the fourth quarter worth approximately $3,382,000. Legato Capital Management LLC increased its stake in Matador Resources by 3.4% during the fourth quarter. Legato Capital Management LLC now owns 9,369 shares of the energy company’s stock worth $398,000 after acquiring an additional 305 shares during the last quarter. LSV Asset Management increased its stake in Matador Resources by 8.8% during the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after acquiring an additional 309,708 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Matador Resources by 1,536.9% during the fourth quarter. Global Retirement Partners LLC now owns 3,192 shares of the energy company’s stock valued at $135,000 after buying an additional 2,997 shares during the period. Finally, Leonteq Securities AG purchased a new position in shares of Matador Resources during the fourth quarter valued at approximately $86,000. 91.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTDR. Wells Fargo & Company boosted their target price on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Truist Financial upgraded Matador Resources from a “hold” rating to a “buy” rating and boosted their target price for the company from $60.00 to $67.00 in a research report on Tuesday, May 12th. Morgan Stanley boosted their target price on Matador Resources from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 22nd. Zacks Research upgraded Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Finally, TD Cowen boosted their target price on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.85.

Matador Resources Stock Down 5.0%

Shares of NYSE MTDR opened at $53.78 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.81. The stock has a 50 day moving average price of $59.61 and a 200 day moving average price of $50.18. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.20% and a net margin of 14.41%.Matador Resources’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 earnings per share. Sell-side analysts expect that Matador Resources Company will post 7.36 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio (DPR) 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.