NFJ Investment Group LLC Purchases Shares of 170,685 Matador Resources Company $MTDR

NFJ Investment Group LLC purchased a new stake in Matador Resources Company (NYSE:MTDR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 170,685 shares of the energy company’s stock, valued at approximately $8,497,000. NFJ Investment Group LLC owned about 0.14% of Matador Resources as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in MTDR. Kestra Investment Management LLC boosted its stake in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources during the first quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources in the third quarter valued at approximately $35,000. Center for Financial Planning Inc. acquired a new stake in shares of Matador Resources in the first quarter worth $41,000. Finally, Gilpin Wealth Management LLC acquired a new stake in shares of Matador Resources in the fourth quarter worth $42,000. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Roth Capital upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, June 22nd. Citigroup dropped their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. KeyCorp cut their price objective on shares of Matador Resources from $73.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Wells Fargo & Company increased their target price on shares of Matador Resources from $63.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, Truist Financial decreased their target price on Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.07.

Insider Activity

In other news, CFO Christopher P. Calvert acquired 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $53.24 per share, with a total value of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Glenn W. Stetson acquired 500 shares of the firm’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 acquisition, the chief operating officer owned 95,470 shares of the company’s stock, 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. Over the last 90 days, insiders have acquired 31,996 shares of company stock valued at $1,675,663. Insiders own 5.90% of the company’s stock.

Matador Resources Price Performance

Matador Resources stock opened at $58.42 on Friday. 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 firm has a market cap of $7.23 billion, a P/E ratio of 10.02 and a beta of 0.76. The business’s fifty day moving average is $51.37 and its two-hundred day moving average is $54.40. 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 earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. Matador Resources’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 earnings per share. Equities research analysts forecast that Matador Resources Company will post 7.19 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources’s dividend 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.