The Manufacturers Life Insurance Company Buys Shares of 84,211 Matador Resources Company $MTDR

The Manufacturers Life Insurance Company purchased a new position in Matador Resources Company (NYSE:MTDRFree Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 84,211 shares of the energy company’s stock, valued at approximately $4,192,000. The Manufacturers Life Insurance Company owned about 0.07% of Matador Resources at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Altshuler Shaham Ltd boosted its position in shares of Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares in the last quarter. Burford Brothers Inc. increased its position in Matador Resources by 0.8% during the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after buying an additional 225 shares in the last quarter. Fiduciary Trust Co increased its position in Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after buying an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after buying an additional 254 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in Matador Resources by 1.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 23,240 shares of the energy company’s stock valued at $1,468,000 after buying an additional 304 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Trading Up 2.1%

Shares of Matador Resources stock opened at $59.24 on Wednesday. The stock has a market cap of $7.33 billion, a PE ratio of 10.16 and a beta of 0.79. The firm has a fifty day moving average price of $52.38 and a 200 day moving average price of $55.01. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62.

Matador Resources (NYSE:MTDRGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 earnings per share. Equities research analysts predict that Matador Resources Company will post 7.26 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s payout ratio is 25.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MTDR shares. Wall Street Zen upgraded Matador Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Stephens increased their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Citigroup lowered their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. UBS Group boosted their target price on shares of Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Truist Financial cut their price target on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $66.07.

Get Our Latest Stock Report on MTDR

Insider Buying and Selling

In related news, CEO Joseph Wm Foran purchased 555 shares of Matador Resources stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average cost of $54.49 per share, for a total transaction of $30,241.95. Following the completion of the transaction, the chief executive officer owned 4,772 shares in the company, valued at $260,026.28. The trade was a 13.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Christopher P. Calvert purchased 2,500 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $56.64 per share, with a total value of $141,600.00. Following the completion of the acquisition, the chief financial officer directly owned 44,000 shares of the company’s stock, valued at $2,492,160. This trade represents a 6.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 27,644 shares of company stock worth $1,457,138 over the last ninety days. 5.90% of the stock is owned by corporate insiders.

About Matador Resources

(Free Report)

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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Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

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