California State Teachers Retirement System Raises Stock Holdings in Matador Resources Company $MTDR

Key Points

• California State Teachers Retirement System increased its Matador Resources stake by 19.4% in the first quarter, adding 21,651 shares to own 133,468 shares valued at approximately $8.43 million. Institutional investors collectively own 91.98% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $66.00 average price target. Recent targets range from $63 to $93, although Zacks Research downgraded the stock to “Hold.”
• Matador beat quarterly earnings and revenue estimates, reporting $1.53 in EPS and $941.6 million in revenue, but revenue declined 33.8% year over year. The company declared a quarterly dividend of $0.375 per share, equivalent to a 3.1% annual yield.

California State Teachers Retirement System boosted its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 19.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,468 shares of the energy company's stock after buying an additional 21,651 shares during the quarter. California State Teachers Retirement System owned 0.11% of Matador Resources worth $8,433,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Matador Resources by 1,104.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company's stock valued at $103,000 after buying an additional 1,845 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after acquiring an additional 690 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Matador Resources during the second quarter worth $255,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Matador Resources in the second quarter valued at $5,126,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Matador Resources by 767.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company's stock valued at $156,000 after purchasing an additional 2,885 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. Mizuho upgraded Matador Resources to a "strong-buy" rating in a research note on Friday, July 31st. Roth Capital raised Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Monday, June 22nd. Stephens boosted their price objective 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, Zacks Research lowered shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.00.

Insiders Place Their Bets

In related news, COO Glenn W. Stetson acquired 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares of the company's stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran acquired 4,675 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the purchase, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. This trade represents a 201.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 11,907 shares of company stock worth $635,712 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Matador Resources Stock Performance

NYSE:MTDR opened at $48.78 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The firm has a 50-day moving average of $51.75 and a two-hundred day moving average of $53.59. The stock has a market cap of $6.06 billion, a P/E ratio of 12.54 and a beta of 0.76.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same quarter last year, the firm earned $1.99 EPS. The business's revenue was down 33.8% on a year-over-year basis. On average, research analysts expect that Matador Resources Company will post 6.96 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources's dividend payout ratio is currently 38.56%.

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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