Pallas Capital Advisors LLC Invests $325,000 in Matador Resources Company $MTDR

Key Points

• Pallas Capital Advisors LLC purchased 6,819 shares of Matador Resources Company for approximately $325,000 during the second quarter.
• Matador Resources reported $1.53 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $1.29, with revenues of $895.31 million.
• The company's quarterly dividend of $0.3125 per share represents an annual dividend yield of 2.8% with a payout ratio of 18.30%.

Pallas Capital Advisors LLC purchased a new position in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,819 shares of the energy company's stock, valued at approximately $325,000.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after buying an additional 267 shares during the period. NBC Securities Inc. grew its stake in shares of Matador Resources by 113.4% in the second quarter. NBC Securities Inc. now owns 15,896 shares of the energy company's stock valued at $758,000 after buying an additional 8,447 shares in the last quarter. Gallacher Capital Management LLC bought a new position in shares of Matador Resources in the second quarter valued at $564,000. Wesbanco Bank Inc. boosted its position in Matador Resources by 75.6% during the second quarter. Wesbanco Bank Inc. now owns 35,994 shares of the energy company's stock worth $1,718,000 after purchasing an additional 15,500 shares during the period. Finally, Strs Ohio bought a new stake in shares of Matador Resources in the first quarter valued at about $5,881,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

Shares of NYSE MTDR traded up $0.47 during trading on Monday, reaching $45.90. 1,300,412 shares of the company traded hands, compared to its average volume of 1,379,519. The firm's fifty day simple moving average is $48.66 and its 200 day simple moving average is $46.85. The stock has a market cap of $5.71 billion, a P/E ratio of 6.72 and a beta of 1.49. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57.

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

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Matador Resources's dividend payout ratio is 18.30%.

Wall Street Analyst Weigh In

MTDR has been the subject of several recent analyst reports. Mizuho cut their price objective on shares of Matador Resources from $73.00 to $69.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Raymond James Financial raised their target price on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Morgan Stanley lifted their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. KeyCorp dropped their price target on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company decreased their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $67.27.

Insiders Place Their Bets

In other news, COO Christopher P. Calvert purchased 1,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $47.77 per share, for a total transaction of $47,770.00. Following the completion of the purchase, the chief operating officer directly owned 37,500 shares of the company's stock, valued at approximately $1,791,375. This trade represents a 2.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William Thomas Elsener acquired 600 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were bought at an average cost of $48.46 per share, for a total transaction of $29,076.00. Following the transaction, the executive vice president directly owned 112,069 shares of the company's stock, valued at approximately $5,430,863.74. This trade represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 11,380 shares of company stock worth $549,188 over the last ninety days. Corporate insiders own 5.80% of the company's stock.

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.