Strs Ohio Invests $5.88 Million in Matador Resources Company $MTDR

Key Points

• Strs Ohio acquired a new position in Matador Resources Company, purchasing 115,113 shares valued at approximately $5.88 million, representing about 0.09% ownership in the company.
• CEO Joseph Wm Foran bought 5,000 shares at $49.17 each, increasing his holdings by 311.33%, which now totals 6,606 shares valued around $324,817.
• Matador Resources reported a quarterly earnings per share of $1.53, surpassing estimates and showing an 8.2% increase in revenue compared to the same quarter last year.

Strs Ohio bought a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 115,113 shares of the energy company's stock, valued at approximately $5,881,000. Strs Ohio owned 0.09% of Matador Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its holdings in Matador Resources by 0.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after acquiring an additional 244 shares during the period. State of Wyoming raised its position in Matador Resources by 11.6% in the 4th quarter. State of Wyoming now owns 2,772 shares of the energy company's stock valued at $156,000 after purchasing an additional 288 shares in the last quarter. State of Michigan Retirement System raised its position in Matador Resources by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock valued at $1,420,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Matador Resources by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock valued at $1,660,000 after purchasing an additional 300 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Matador Resources by 3.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock valued at $555,000 after purchasing an additional 340 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MTDR shares. Wells Fargo & Company reduced their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. UBS Group reduced their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. KeyCorp dropped their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Finally, Raymond James Financial increased their price objective on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and a consensus price target of $67.27.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $48.15 per share, for a total transaction of $96,300.00. Following the completion of the purchase, the chief executive officer owned 8,025 shares of the company's stock, valued at $386,403.75. This trade represents a 33.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Thomas Elsener bought 600 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $48.46 per share, with a total value of $29,076.00. Following the completion of the purchase, the executive vice president directly owned 112,069 shares of the company's stock, valued at approximately $5,430,863.74. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 11,380 shares of company stock worth $549,188. 5.80% of the stock is owned by corporate insiders.

Matador Resources Stock Performance

MTDR traded down $2.00 during trading on Friday, hitting $45.33. 2,693,403 shares of the stock were exchanged, compared to its average volume of 1,305,981. The firm has a market capitalization of $5.64 billion, a P/E ratio of 6.64 and a beta of 1.49. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $48.78 and a two-hundred day moving average price of $46.83. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. As a group, sell-side analysts predict that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 15th. Matador Resources's payout ratio is presently 18.30%.

About Matador Resources

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.