Goehring & Rozencwajg Associates LLC boosted its position in Matador Resources Company (NYSE:MTDR – Free Report) by 19.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 344,138 shares of the energy company’s stock after buying an additional 55,926 shares during the period. Matador Resources accounts for about 1.4% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 24th largest holding. Goehring & Rozencwajg Associates LLC’s holdings in Matador Resources were worth $14,605,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MTDR. Kestra Investment Management LLC increased its stake in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. Rothschild Investment LLC increased its stake in Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources in the 3rd quarter valued at approximately $35,000. Gilpin Wealth Management LLC purchased a new position in Matador Resources in the 4th quarter valued at approximately $42,000. Finally, Geneos Wealth Management Inc. increased its stake in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after purchasing an additional 690 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on MTDR shares. Roth Mkm reaffirmed a “neutral” rating and issued a $65.00 price objective (up from $52.00) on shares of Matador Resources in a research note on Wednesday, April 8th. Morgan Stanley raised their price objective on Matador Resources from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. BMO Capital Markets raised their price objective on Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Mizuho raised their price target on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.08.
Matador Resources Stock Up 0.7%
MTDR opened at $53.98 on Friday. 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 firm has a market cap of $6.70 billion, a P/E ratio of 13.88 and a beta of 0.74. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The business’s fifty day simple moving average is $58.08 and its 200 day simple moving average is $51.41.
Matador Resources (NYSE:MTDR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The business had revenue of $941.60 million for 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%.The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 earnings per share. As a group, equities research analysts anticipate that Matador Resources Company will post 7.5 EPS for the current fiscal year.
Matador Resources Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.
Insider Activity at Matador Resources
In related news, COO Glenn W. Stetson acquired 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the purchase, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $53.07 per share, with a total value of $106,140.00. Following the transaction, the chief executive officer owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 11,907 shares of company stock valued at $635,712 over the last quarter. Insiders own 5.90% of the company’s stock.
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.
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