Buckland Partners Management Co LLC Purchases Shares of 20,000 Matador Resources Company $MTDR

Key Points

• Buckland Partners purchased 20,000 shares of Matador Resources worth approximately $996,000, while institutional investors collectively own 91.98% of the company.
• Analysts maintain a generally positive outlook, with Matador carrying a “Moderate Buy” consensus rating and an average price target of $66.07; targets range from $56 to $79.
• Matador reported quarterly EPS of $2.61, beating estimates by $0.53, while revenue rose 32.5% year over year to $1.17 billion. The company also declared a quarterly dividend of $0.375 per share, representing a 2.7% yield.

Buckland Partners Management Co LLC purchased a new position in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the energy company's stock, valued at approximately $996,000.

Several other hedge funds have also made changes to their positions in MTDR. BlackRock Inc. purchased a new position in shares of Matador Resources during the 2nd quarter worth about $573,936,000. Dimensional Fund Advisors LP increased its position 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 worth $439,010,000 after purchasing an additional 277,839 shares during the last quarter. State Street Corp increased its position 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 purchasing an additional 86,344 shares during the last quarter. LSV Asset Management raised its stake 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 purchasing an additional 309,708 shares during the period. Finally, Wellington Management Group LLP raised its stake in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock worth $144,558,000 after purchasing an additional 1,342,145 shares during the period. Institutional investors and hedge funds own 91.98% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTDR shares. Zacks Research downgraded Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Truist Financial cut their price objective on Matador Resources from $63.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Wells Fargo & Company lifted their price objective on Matador Resources from $63.00 to $79.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. UBS Group boosted their target price on Matador Resources from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of Matador Resources from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $66.07.

Insider Activity at Matador Resources

In related news, CFO Christopher P. Calvert bought 1,500 shares of the business's stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer owned 41,500 shares in the company, valued at $2,209,460. This trade represents a 3.75% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 10,000 shares of Matador Resources stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $52.16 per share, for a total transaction of $521,600.00. Following the transaction, the chief executive officer directly owned 25,617 shares of the company's stock, valued at approximately $1,336,182.72. The trade was a 64.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 31,596 shares of company stock valued at $1,654,207 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Matador Resources Stock Performance

Matador Resources stock opened at $55.84 on Tuesday. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 9.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The firm's fifty day moving average price is $51.14 and its 200 day moving average price is $54.13.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business posted $1.53 earnings per share. Matador Resources's revenue for the quarter was up 32.5% on a year-over-year basis. On average, research analysts forecast that Matador Resources Company will post 7.11 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, August 10th. Matador Resources's dividend payout ratio is 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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