74,778 Shares in Matador Resources Company $MTDR Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new stake in shares of Matador Resources Company (NYSE:MTDR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 74,778 shares of the energy company’s stock, valued at approximately $3,722,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Matador Resources during the 2nd quarter worth about $573,936,000. Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after buying an additional 277,839 shares during the period. State Street Corp lifted its holdings in shares of Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock valued at $195,982,000 after buying an additional 86,344 shares during the period. LSV Asset Management boosted its stake in shares of Matador Resources by 8.8% in the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after buying an additional 309,708 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of 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 worth $144,558,000 after buying an additional 1,342,145 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Glenn W. Stetson purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the purchase, the chief operating officer owned 95,470 shares of the company’s stock, valued at $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 555 shares of the company’s 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 purchase, the chief executive officer directly owned 4,772 shares in the company, valued at $260,026.28. This trade represents a 13.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 25,144 shares of company stock worth $1,315,538 over the last three months. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MTDR has been the topic of several analyst reports. UBS Group raised their target price on Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Truist Financial decreased their price target on Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a report on Monday, August 10th. Mizuho upgraded Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. 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. Finally, Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.07.

Matador Resources Trading Down 0.6%

MTDR stock opened at $56.42 on Friday. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The firm has a market cap of $6.98 billion, a P/E ratio of 9.68 and a beta of 0.76. The company’s 50-day simple moving average is $52.05 and its 200-day simple moving average is $54.81.

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

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.7%. Matador Resources’s payout ratio is 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.