SIR Capital Management L.P. Takes Position in Matador Resources (NYSE:MTDR)

SIR Capital Management L.P. acquired a new stake in shares of Matador Resources (NYSE:MTDR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 173,600 shares of the energy company’s stock, valued at approximately $9,767,000.

A number of other institutional investors have also recently made changes to their positions in MTDR. Vanguard Group Inc. increased its holdings in Matador Resources by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after buying an additional 187,633 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Matador Resources by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after acquiring an additional 30,184 shares during the period. Alliancebernstein L.P. grew its position in shares of Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after acquiring an additional 555,245 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Matador Resources by 18.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock worth $93,952,000 after purchasing an additional 258,958 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after purchasing an additional 1,098,108 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

MTDR opened at $44.42 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 6.22 and a beta of 1.47. The company has a fifty day moving average of $44.29 and a 200 day moving average of $52.41. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same quarter in the prior year, the firm earned $1.71 EPS. The business’s revenue was up 28.7% on a year-over-year basis. As a group, sell-side analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, May 9th. Matador Resources’s dividend payout ratio is presently 16.78%.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $39.63 per share, for a total transaction of $99,075.00. Following the transaction, the chief executive officer now owns 60,756 shares of the company’s stock, valued at $2,407,760.28. The trade was a 4.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert T. Macalik purchased 1,200 shares of Matador Resources stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the transaction, the chief accounting officer now directly owns 31,000 shares of the company’s stock, valued at $1,487,380. The trade was a 4.03% increase in their position. The disclosure for this purchase can be found here. Insiders bought 36,200 shares of company stock worth $1,701,872 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTDR shares. Royal Bank of Canada cut their price target on Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, April 11th. UBS Group began coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 target price for the company. Morgan Stanley decreased their target price on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, KeyCorp decreased their price objective on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.33.

Matador Resources Profile

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.