Encompass Capital Advisors LLC bought a new position in shares of Matador Resources Company (NYSE:MTDR – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,254,678 shares of the energy company’s stock, valued at approximately $53,249,000. Matador Resources comprises approximately 2.2% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Encompass Capital Advisors LLC owned approximately 1.01% of Matador Resources at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC boosted its stake in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Rothschild Investment LLC boosted its stake in Matador Resources by 5,927.3% during the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Matador Resources during the 3rd quarter worth $35,000. Gilpin Wealth Management LLC acquired a new stake in Matador Resources during the 4th quarter worth $42,000. Finally, Geneos Wealth Management Inc. boosted its stake in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
Insider Buying and Selling at Matador Resources
In related news, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran bought 4,675 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the transaction, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at $366,362.92. The trade was a 201.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 11,907 shares of company stock valued at $635,712 over the last 90 days. 5.90% of the stock is owned by insiders.
Matador Resources Trading Down 1.6%
Matador Resources (NYSE:MTDR – Get Free Report) 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. The firm had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 EPS. As a group, equities analysts predict that Matador Resources Company will post 7.44 earnings per share for the current year.
Matador Resources Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 3.0%. Matador Resources’s dividend payout ratio is presently 38.56%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on MTDR shares. KeyCorp lifted their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. UBS Group lifted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Roth Mkm reaffirmed a “neutral” rating and set a $65.00 target price (up from $52.00) on shares of Matador Resources in a research note on Wednesday, April 8th. TD Cowen lifted their target price on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Finally, 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. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $65.08.
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 nonāoperated 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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