Louisiana State Employees Retirement System Makes New $2.14 Million Investment in Matador Resources Company $MTDR

Louisiana State Employees Retirement System bought a new position in shares of Matador Resources Company (NYSE:MTDR) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 33,900 shares of the energy company’s stock, valued at approximately $2,142,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in Matador Resources in the 3rd quarter worth $61,615,000. Wellington Management Group LLP increased its stake in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Matador Resources during the 4th quarter worth about $53,249,000. Balyasny Asset Management L.P. raised its position in shares of Matador Resources by 2,495.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after purchasing an additional 531,551 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Matador Resources by 12.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock valued at $142,853,000 after buying an additional 385,000 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

MTDR stock opened at $49.80 on Tuesday. The business has a fifty day moving average of $55.79 and a two-hundred day moving average of $52.02. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 12.80 and a beta of 0.75. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the prior year, the company posted $1.99 EPS. The company’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, research analysts anticipate that Matador Resources Company will post 7.45 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 8th. Matador Resources’s payout ratio is 38.56%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BMO Capital Markets boosted their price objective on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Mizuho increased 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. UBS Group raised their price objective on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Morgan Stanley lowered their price target on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Truist Financial raised shares of 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. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $64.38.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran purchased 4,675 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the transaction, the chief executive officer directly owned 6,997 shares in the company, valued at approximately $366,362.92. The trade was a 201.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, COO Glenn W. Stetson purchased 500 shares of Matador Resources stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the purchase, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their position. The SEC filing for this purchase provides additional information. 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.

About Matador Resources

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.