Cramer Rosenthal Mcglynn LLC Reduces Holdings in Matador Resources Company $MTDR

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its stake in Matador Resources by 17.3% during the first quarter, selling 111,146 shares and holding 530,954 shares afterward.
• Matador Resources reported a quarterly earnings per share (EPS) of $1.53, exceeding the consensus estimate of $1.29, and achieved a revenue of $895.31 million for the quarter.
• The company declared a quarterly dividend of $0.3125 per share, which translates to an annualized dividend yield of 2.6%, payable on September 5th.

Cramer Rosenthal Mcglynn LLC decreased its stake in Matador Resources Company (NYSE:MTDR - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 530,954 shares of the energy company's stock after selling 111,146 shares during the period. Matador Resources accounts for 2.0% of Cramer Rosenthal Mcglynn LLC's investment portfolio, making the stock its 14th largest holding. Cramer Rosenthal Mcglynn LLC owned about 0.42% of Matador Resources worth $27,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Synovus Financial Corp boosted its holdings in shares of Matador Resources by 25.4% in the 1st quarter. Synovus Financial Corp now owns 28,979 shares of the energy company's stock valued at $1,481,000 after buying an additional 5,876 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Matador Resources by 306.6% in the 1st quarter. MetLife Investment Management LLC now owns 267,666 shares of the energy company's stock valued at $13,675,000 after buying an additional 201,834 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Matador Resources by 161.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,596 shares of the energy company's stock valued at $182,000 after buying an additional 2,220 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Matador Resources by 8.6% in the 1st quarter. Kestra Advisory Services LLC now owns 54,314 shares of the energy company's stock valued at $2,775,000 after buying an additional 4,294 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Matador Resources in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Price Performance

Shares of NYSE MTDR traded up $0.20 during midday trading on Friday, hitting $50.36. The company had a trading volume of 875,337 shares, compared to its average volume of 1,694,924. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The business has a 50-day simple moving average of $49.29 and a two-hundred day simple moving average of $47.48. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 7.37 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm had revenue of $895.31 million during the quarter, compared to analysts' expectations of $892.86 million. During the same quarter last year, the business earned $2.05 earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.3125 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.5%. Matador Resources's dividend payout ratio (DPR) is 18.30%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $46.25 per share, for a total transaction of $92,500.00. Following the completion of the purchase, the chief executive officer directly owned 8,606 shares of the company's stock, valued at approximately $398,027.50. This trade represents a 30.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on MTDR shares. Morgan Stanley upped their target price on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Raymond James Financial increased their price target on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. William Blair started coverage on shares of Matador Resources in a research note on Monday. They set an "outperform" rating for the company. Finally, UBS Group decreased their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. One 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 company's stock. Based on data from MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and a consensus target price of $67.60.

Matador Resources Company 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.