Baird Financial Group Inc. Has $5.82 Million Stake in Matador Resources Company $MTDR

Key Points

• Baird Financial Group Inc. increased its holdings in Matador Resources by 6.7% in the first quarter, bringing its total investment to approximately $5.82 million.
• Multiple institutional investors have significantly increased their stakes in Matador Resources, with 91.98% of the stock now owned by these investors.
• Matador Resources announced a quarterly dividend of $0.3125, indicating an annual yield of 2.5% and a payout ratio of 18.30%.

Baird Financial Group Inc. grew its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,927 shares of the energy company's stock after purchasing an additional 7,111 shares during the period. Baird Financial Group Inc. owned about 0.09% of Matador Resources worth $5,821,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after buying an additional 956,090 shares during the last quarter. LSV Asset Management grew its holdings in shares of Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock valued at $116,964,000 after acquiring an additional 772,071 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Matador Resources in the first quarter valued at about $35,715,000. Wellington Management Group LLP raised its holdings in Matador Resources by 30.5% during the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock worth $104,413,000 after acquiring an additional 477,236 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in Matador Resources during the fourth quarter valued at approximately $15,701,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $46.25 per share, with a total value of $92,500.00. Following the completion of the transaction, the chief executive officer owned 8,606 shares in the company, valued at $398,027.50. The trade was a 30.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.80% of the company's stock.

Analysts Set New Price Targets

MTDR has been the topic of several recent analyst reports. Wells Fargo & Company lowered 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. Morgan Stanley boosted their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Bank of America began coverage on shares of Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price target for the company. UBS Group lowered their price objective on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Finally, Raymond James Financial upped their target price on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $67.53.

Matador Resources Stock Performance

Matador Resources stock traded up $2.10 during trading hours on Wednesday, hitting $49.36. The company had a trading volume of 1,169,606 shares, compared to its average volume of 1,256,241. The firm has a 50-day moving average of $49.32 and a 200 day moving average of $47.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a market cap of $6.14 billion, a PE ratio of 7.23 and a beta of 1.49. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04.

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

Matador Resources Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.5%. Matador Resources's dividend payout ratio (DPR) is presently 18.30%.

Matador Resources 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.