Adage Capital Partners GP L.L.C. Increases Position in Matador Resources Company $MTDR

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Matador Resources by an astonishing 2,002.9%, owning 1,051,472 shares valued at approximately $53.72 million as of the latest filing.
• CEO Joseph Wm Foran acquired 5,000 shares of Matador Resources at an average cost of $49.17, raising his total stake by 311.33%.
• Matador Resources recently announced a quarterly dividend of $0.3125, representing an annual yield of 2.4%, with a payout ratio of 18.30%.

Adage Capital Partners GP L.L.C. raised its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 2,002.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,051,472 shares of the energy company's stock after buying an additional 1,001,472 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.84% of Matador Resources worth $53,720,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Dark Forest Capital Management LP boosted its position in shares of Matador Resources by 267.7% during the first quarter. Dark Forest Capital Management LP now owns 78,319 shares of the energy company's stock valued at $4,001,000 after buying an additional 57,019 shares during the period. PDT Partners LLC boosted its position in shares of Matador Resources by 77.1% during the first quarter. PDT Partners LLC now owns 63,350 shares of the energy company's stock valued at $3,237,000 after buying an additional 27,582 shares during the period. Royal Bank of Canada boosted its position in shares of Matador Resources by 13.3% during the first quarter. Royal Bank of Canada now owns 439,972 shares of the energy company's stock valued at $22,478,000 after buying an additional 51,499 shares during the period. Beck Mack & Oliver LLC boosted its position in shares of Matador Resources by 6.8% during the first quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock valued at $77,398,000 after buying an additional 96,562 shares during the period. Finally, Quarry LP boosted its position in shares of Matador Resources by 70.8% during the first quarter. Quarry LP now owns 859 shares of the energy company's stock valued at $44,000 after buying an additional 356 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average cost of $49.17 per share, with a total value of $245,850.00. Following the completion of the acquisition, the chief executive officer owned 6,606 shares of the company's stock, valued at $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company's stock.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $51.21 on Wednesday. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 7.50 and a beta of 1.49. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04. 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 firm has a 50 day moving average of $49.35 and a 200 day moving average of $47.26.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Matador Resources's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict 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 will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's payout ratio is currently 18.30%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTDR. Bank of America began coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 target price for the company. William Blair initiated coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. Morgan Stanley lifted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Raymond James Financial lifted their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, UBS Group decreased their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.60.

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.

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