Dockside LLC Takes Position in Matador Resources Company $MTDR

Dockside LLC bought a new position in shares of Matador Resources Company (NYSE:MTDR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 188,726 shares of the energy company’s stock, valued at approximately $8,010,000. Matador Resources makes up approximately 2.1% of Dockside LLC’s portfolio, making the stock its 5th largest position. Dockside LLC owned about 0.15% of Matador Resources as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fiduciary Trust Co raised its holdings in Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Matador Resources by 2.9% in the fourth 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 during the period. Verdence Capital Advisors LLC raised its stake in Matador Resources by 3.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock valued at $349,000 after buying an additional 278 shares during the period. Legato Capital Management LLC raised its stake in Matador Resources by 3.4% in the fourth quarter. Legato Capital Management LLC now owns 9,369 shares of the energy company’s stock valued at $398,000 after buying an additional 305 shares during the period. Finally, Hancock Whitney Corp raised its stake in Matador Resources by 0.5% in the third quarter. Hancock Whitney Corp now owns 60,150 shares of the energy company’s stock valued at $2,703,000 after buying an additional 315 shares during the period. Institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Mizuho upped their price objective on Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. TD Cowen upped their price objective on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Morgan Stanley upped 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. Finally, Truist Financial upgraded Matador Resources from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.00 to $67.00 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 stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.08.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran bought 4,675 shares of the stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the purchase, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. This trade represents a 201.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher P. Calvert purchased 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at $2,209,460. This represents a 3.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 11,907 shares of company stock worth $635,712. Company insiders own 5.90% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.98 on Friday. The firm has a market cap of $6.70 billion, a P/E ratio of 13.88 and a beta of 0.74. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The business’s 50 day moving average is $58.08 and its 200-day moving average is $51.41.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The company 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 firm’s quarterly revenue 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. Equities research analysts predict that Matador Resources Company will post 7.5 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a dividend of $0.375 per share. The ex-dividend date 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 38.56%.

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.