Empowered Funds LLC Invests $3.73 Million in Matador Resources Company $MTDR

Empowered Funds LLC purchased a new position in Matador Resources Company (NYSE:MTDR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 74,906 shares of the energy company’s stock, valued at approximately $3,729,000.

Several other hedge funds have also recently bought and sold shares of MTDR. BlackRock Inc. acquired a new position in Matador Resources during the second quarter worth $573,936,000. Wellington Management Group LLP grew its holdings in Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in Matador Resources in the fourth quarter valued at $53,249,000. Bank of New York Mellon Corp acquired a new stake in Matador Resources in the second quarter valued at $56,161,000. Finally, Bank of America Corp DE purchased a new position in shares of Matador Resources in the second quarter valued at $42,184,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joseph Wm Foran purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $52.16 per share, with a total value of $521,600.00. Following the purchase, the chief executive officer directly owned 25,617 shares of the company’s stock, valued at approximately $1,336,182.72. This trade represents a 64.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Thomas Elsener purchased 850 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $50.94 per share, with a total value of $43,299.00. Following the completion of the acquisition, the executive vice president owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 27,644 shares of company stock worth $1,457,138. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MTDR shares. Truist Financial cut their price target on Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Weiss Ratings raised shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Wells Fargo & Company raised their target price on shares of Matador Resources from $63.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. UBS Group lifted 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, Mizuho raised shares of Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.07.

Matador Resources Stock Performance

Matador Resources stock opened at $59.24 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. The stock has a fifty day moving average of $52.38 and a two-hundred day moving average of $55.01. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 10.16 and a beta of 0.79. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, analysts anticipate that Matador Resources Company will post 7.26 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is currently 25.73%.

Matador Resources 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.