Madison Asset Management LLC Has $17.73 Million Position in Matador Resources Company $MTDR

Madison Asset Management LLC increased its holdings in shares of Matador Resources Company (NYSE:MTDR) by 27.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 280,699 shares of the energy company’s stock after purchasing an additional 59,699 shares during the quarter. Madison Asset Management LLC owned 0.23% of Matador Resources worth $17,735,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC raised its holdings in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares during the period. V Square Quantitative Management LLC acquired a new position in Matador Resources in the 1st quarter worth $27,000. Measured Wealth Private Client Group LLC acquired a new position in Matador Resources in the 3rd quarter worth $35,000. Center for Financial Planning Inc. bought a new position in Matador Resources during the 1st quarter worth about $41,000. Finally, Gilpin Wealth Management LLC bought a new position in Matador Resources during the 4th quarter worth about $42,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTDR. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, June 22nd. Morgan Stanley cut their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. Wells Fargo & Company upped their price target on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Citigroup decreased their price target on shares of Matador Resources from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. Finally, KeyCorp lifted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

Matador Resources Price Performance

NYSE:MTDR opened at $53.51 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The stock’s 50-day simple moving average is $53.51 and its 200 day simple moving average is $52.99. The company has a market cap of $6.64 billion, a P/E ratio of 13.76 and a beta of 0.74. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last issued 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. The firm had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 earnings per share. As a group, sell-side analysts forecast that Matador Resources Company will post 6.99 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio (DPR) is currently 38.56%.

Insider Activity at Matador Resources

In other news, CFO Christopher P. Calvert acquired 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $53.24 per share, with a total value of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 4,675 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $52.36 per share, with a total value of $244,783.00. Following the transaction, 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 disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 11,907 shares of company stock valued at $635,712. 5.90% of the stock is owned by corporate insiders.

Matador Resources Company 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.