Copeland Capital Management LLC Acquires 233,423 Shares of Matador Resources Company $MTDR

Key Points

• Copeland Capital Management increased its stake in Matador Resources by 19.6% in Q4, acquiring 233,423 shares to hold 1,426,505 shares worth about $60.54 million (≈1.15% of the company), making MTDR its 21st largest position.
• Other large funds including Vanguard, Dimensional and Wellington also added to positions, leaving institutional ownership at roughly 91.98% of the stock.
• Analysts give MTDR a consensus rating of Moderate Buy with an average target of $62.62; Matador beat Q4 EPS estimates ($0.87 vs. $0.71), reported slightly lower revenue, and declared a $0.375 quarterly dividend (annualized $1.50, ~2.5% yield).

Copeland Capital Management LLC increased its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,426,505 shares of the energy company's stock after acquiring an additional 233,423 shares during the quarter. Matador Resources makes up about 1.4% of Copeland Capital Management LLC's holdings, making the stock its 21st largest position. Copeland Capital Management LLC owned about 1.15% of Matador Resources worth $60,541,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Matador Resources by 0.7% during the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company's stock worth $664,105,000 after acquiring an additional 101,613 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Matador Resources by 4.2% during the third quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company's stock worth $288,079,000 after acquiring an additional 259,299 shares during the period. LSV Asset Management lifted its holdings in Matador Resources by 5.9% during the third quarter. LSV Asset Management now owns 3,532,303 shares of the energy company's stock worth $158,706,000 after acquiring an additional 197,528 shares during the period. Wellington Management Group LLP lifted its holdings in Matador Resources by 6.7% during the third quarter. Wellington Management Group LLP now owns 2,064,037 shares of the energy company's stock worth $92,737,000 after acquiring an additional 129,863 shares during the period. Finally, AQR Capital Management LLC increased its position in Matador Resources by 8.2% in the third quarter. AQR Capital Management LLC now owns 1,408,798 shares of the energy company's stock worth $63,297,000 after buying an additional 106,211 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTDR has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Matador Resources in a research report on Friday, January 9th. Roth Mkm reissued a "neutral" rating and issued a $65.00 target price (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. Zacks Research raised Matador Resources from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 8th. Citigroup raised their target price on Matador Resources from $62.00 to $77.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. Finally, Truist Financial initiated coverage on Matador Resources in a research report on Tuesday, March 24th. They issued a "hold" rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.62.

Matador Resources Stock Performance

NYSE:MTDR opened at $61.07 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The business has a fifty day simple moving average of $56.97 and a two-hundred day simple moving average of $47.55. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The company has a market capitalization of $7.59 billion, a P/E ratio of 10.01 and a beta of 0.91.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The company had revenue of $809.55 million during the quarter, compared to analysts' expectations of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The firm's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 earnings per share. On average, analysts expect that Matador Resources Company will post 7.35 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be given a $0.375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.5%. Matador Resources's payout ratio is 24.59%.

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.

Want to see what other hedge funds are holding MTDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matador Resources Company (NYSE:MTDR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.