SIR Capital Management L.P. Acquires New Holdings in Matador Resources (NYSE:MTDR)

SIR Capital Management L.P. acquired a new position in Matador Resources (NYSE:MTDR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 173,600 shares of the energy company's stock, valued at approximately $9,767,000. SIR Capital Management L.P. owned approximately 0.14% of Matador Resources at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management grew its stake in Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after acquiring an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company's stock valued at $72,223,000 after buying an additional 760,122 shares in the last quarter. Webs Creek Capital Management LP bought a new stake in Matador Resources during the 4th quarter valued at about $37,894,000. Alliancebernstein L.P. increased its position in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after purchasing an additional 555,245 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Matador Resources during the 4th quarter valued at about $22,509,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on MTDR shares. Royal Bank of Canada decreased their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Bank of America initiated coverage on shares of Matador Resources in a research note on Monday. They issued a "buy" rating and a $56.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group initiated coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and an average price target of $69.44.

Insiders Place Their Bets

In other Matador Resources news, insider Van H. Singleton II acquired 2,000 shares of the stock in a transaction on Friday, February 21st. The shares were bought at an average price of $53.21 per share, with a total value of $106,420.00. Following the acquisition, the insider now owns 289,135 shares of the company's stock, valued at $15,384,873.35. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran purchased 6,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares in the company, valued at approximately $2,124,103.26. This trade represents a 17.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 36,200 shares of company stock valued at $1,701,872. 6.10% of the stock is owned by company insiders.

Matador Resources Stock Down 0.6%

Shares of Matador Resources stock traded down $0.28 during trading hours on Monday, hitting $44.26. The company had a trading volume of 1,187,669 shares, compared to its average volume of 1,627,875. The company's 50-day moving average is $44.16 and its two-hundred day moving average is $52.32. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The company has a market cap of $5.54 billion, a P/E ratio of 6.20 and a beta of 1.47.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business's quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 earnings per share. Analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, May 9th. Matador Resources's dividend payout ratio is presently 16.78%.

Matador Resources announced that its board has approved a share repurchase plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.