83,892 Shares in Matador Resources Company $MTDR Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management purchased 83,892 Matador Resources shares worth approximately $4.2 million, while institutional investors and hedge funds collectively own 91.98% of the company.
• Matador reported quarterly EPS of $2.61, exceeding expectations of $2.08, while revenue rose 32.5% year over year to $1.17 billion. Analysts maintain a consensus “Moderate Buy” rating with a $66.07 price target.
• The company declared a quarterly dividend of $0.375 per share, or $1.50 annualized, representing a 2.6% yield and a 25.73% payout ratio.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Matador Resources Company (NYSE:MTDR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 83,892 shares of the energy company's stock, valued at approximately $4,176,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Matador Resources at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Matador Resources in the 2nd quarter worth approximately $573,936,000. Dimensional Fund Advisors LP lifted its stake in Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company's stock valued at $439,010,000 after purchasing an additional 277,839 shares during the last quarter. State Street Corp boosted its holdings in Matador Resources by 1.9% during the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company's stock worth $195,982,000 after buying an additional 86,344 shares in the last quarter. LSV Asset Management boosted its holdings in Matador Resources by 8.8% during the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company's stock worth $163,055,000 after buying an additional 309,708 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock worth $144,558,000 after buying an additional 1,342,145 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Matador Resources news, EVP William Thomas Elsener bought 850 shares of the company's stock in a transaction dated Monday, August 10th. The shares were bought at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the acquisition, the executive vice president directly owned 114,879 shares of the company's stock, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Glenn W. Stetson bought 500 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 24,589 shares of company stock valued at $1,285,296. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTDR. Wall Street Zen raised Matador Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. KeyCorp cut their price objective on Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Zacks Research lowered shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Stephens raised their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Finally, Mizuho raised shares of Matador Resources to a "strong-buy" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.07.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $56.74 on Friday. The company's fifty day moving average is $51.91 and its two-hundred day moving average is $54.79. The company has a market cap of $7.02 billion, a P/E ratio of 9.73 and a beta of 0.76. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the firm posted $1.53 earnings per share. Matador Resources's revenue was up 32.5% compared to the same quarter last year. Equities analysts expect that Matador Resources Company will post 7.26 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources's dividend payout ratio is currently 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.

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