Morningstar Investment Management LLC Acquires Shares of 41,627 Matador Resources Company $MTDR

Morningstar Investment Management LLC bought a new stake in shares of Matador Resources Company (NYSE:MTDR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,627 shares of the energy company’s stock, valued at approximately $2,630,000.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Matador Resources in the fourth quarter valued at about $53,249,000. First Trust Advisors LP boosted its stake in Matador Resources by 103.3% in the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after acquiring an additional 810,808 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Matador Resources by 2,495.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Matador Resources during the 1st quarter valued at approximately $30,904,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Down 1.6%

Shares of NYSE MTDR opened at $50.88 on Friday. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The business has a 50-day simple moving average of $53.10 and a two-hundred day simple moving average of $53.20. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.32 billion, a P/E ratio of 13.08 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $871.57 million. During the same period in the prior year, the business posted $1.99 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. Research analysts anticipate that Matador Resources Company will post 6.83 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio is 38.56%.

Insider Buying and Selling

In other news, COO Glenn W. Stetson purchased 500 shares of Matador Resources stock in a transaction dated Tuesday, June 9th. The stock was purchased 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 of the company’s stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher P. Calvert purchased 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the acquisition, the chief financial officer owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This trade represents a 3.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 11,907 shares of company stock valued at $635,712. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Mizuho raised their target price on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Citigroup dropped their price target on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, BMO Capital Markets lifted their price objective on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Eleven analysts have rated the stock with a Buy rating and five have given 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 $64.08.

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.