Carlson Capital L.P. Purchases New Position in Matador Resources Company $MTDR

Key Points

• Carlson Capital L.P. opened a new position in Matador Resources, buying 19,500 shares worth about $828,000 in Q4. The stake represents roughly 0.3% of Carlson’s portfolio.
• Matador reported better-than-expected quarterly results, posting EPS of $1.53 versus the $1.24 estimate and revenue of $941.6 million versus $871.6 million expected. However, revenue still fell 33.8% from a year earlier.
• The company announced a quarterly dividend of $0.375 per share, or $1.50 annualized, yielding about 2.7%. Analysts currently view the stock as a Moderate Buy with a consensus price target of $62.92.

Carlson Capital L.P. purchased a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 19,500 shares of the energy company's stock, valued at approximately $828,000. Matador Resources accounts for approximately 0.3% of Carlson Capital L.P.'s portfolio, making the stock its 28th largest position.

A number of other hedge funds have also modified their holdings of MTDR. Jones Financial Companies Lllp raised its position in shares of 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 acquiring an additional 1,845 shares during the period. Geneos Wealth Management Inc. raised its holdings in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after buying an additional 690 shares during the period. Sivia Capital Partners LLC acquired a new stake in Matador Resources during the 2nd quarter worth approximately $255,000. Arrowstreet Capital Limited Partnership acquired a new stake in Matador Resources during the 2nd quarter worth approximately $5,126,000. Finally, EverSource Wealth Advisors LLC lifted its position in Matador Resources by 767.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company's stock valued at $156,000 after acquiring an additional 2,885 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

Shares of MTDR stock opened at $55.22 on Friday. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.75. The stock has a market cap of $6.86 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.74 and a beta of 0.81. The company has a fifty day moving average price of $58.70 and a two-hundred day moving average price of $48.56.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business's revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.99 earnings per share. As a group, equities analysts predict that Matador Resources Company will post 7.28 EPS for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given 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 of this dividend is Friday, May 8th. Matador Resources's payout ratio is 24.59%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Weiss Ratings raised Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, April 27th. Truist Financial initiated coverage on shares of Matador Resources in a report on Tuesday, March 24th. They issued a "hold" rating and a $60.00 price objective on the stock. Zacks Research upgraded shares of Matador Resources from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 8th. Finally, Citigroup lifted their price target on shares of Matador Resources from $62.00 to $77.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.92.

About Matador Resources

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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