Teachers Retirement System of The State of Kentucky Raises Stock Position in Matador Resources Company $MTDR

Teachers Retirement System of The State of Kentucky grew its holdings in Matador Resources Company (NYSE:MTDR) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,382 shares of the energy company’s stock after acquiring an additional 11,003 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of Matador Resources worth $4,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Matador Resources by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,670,265 shares of the energy company’s stock valued at $283,089,000 after purchasing an additional 258,745 shares during the period. State Street Corp lifted its holdings in Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after purchasing an additional 86,344 shares in the last quarter. LSV Asset Management boosted its stake in Matador Resources by 8.8% in the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after purchasing an additional 309,708 shares during the period. Wellington Management Group LLP boosted its stake in 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 worth $144,558,000 after purchasing an additional 1,342,145 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Matador Resources by 12.9% during the 4th 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 buying an additional 385,000 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Down 1.2%

MTDR stock opened at $52.48 on Wednesday. The firm has a fifty day moving average price of $53.75 and a 200 day moving average price of $52.67. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The firm has a market cap of $6.52 billion, a PE ratio of 13.49 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 (NYSE:MTDR) last released 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. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. During the same quarter in the prior year, the firm earned $1.99 earnings per share. Matador Resources’s revenue was down 33.8% on a year-over-year basis. Sell-side analysts anticipate that Matador Resources Company will post 7.06 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 8th. Matador Resources’s dividend payout ratio is currently 38.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MTDR shares. BMO Capital Markets lifted their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. KeyCorp upped their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Roth Capital 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 report on Monday, June 22nd. Finally, Mizuho boosted their price target on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.38.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran acquired 4,675 shares of Matador Resources stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the acquisition, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at $366,362.92. This trade represents a 201.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Christopher P. Calvert bought 1,500 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average price 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 trade represents a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 11,907 shares of company stock valued at $635,712. Insiders own 5.90% of the company’s stock.

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.