Cresset Asset Management LLC Grows Stock Position in Matador Resources Company $MTDR

Key Points

• Cresset Asset Management LLC increased its holdings in Matador Resources Company by 116.7% in the first quarter, now owning over 10,000 shares valued at approximately $516,000.
• The company announced a quarterly dividend of $0.3125 per share, which results in an annualized dividend of $1.25 and a yield of 2.6%.
• Matador Resources reported a net margin of 22.57% and beat analysts' earnings estimates with $1.53 EPS, despite a year-over-year revenue increase of 8.2%.

Cresset Asset Management LLC grew its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 116.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,093 shares of the energy company's stock after purchasing an additional 5,436 shares during the quarter. Cresset Asset Management LLC's holdings in Matador Resources were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mariner LLC increased its holdings in Matador Resources by 6.7% in the 4th quarter. Mariner LLC now owns 25,078 shares of the energy company's stock worth $1,411,000 after acquiring an additional 1,573 shares in the last quarter. Marshall Wace LLP increased its holdings in Matador Resources by 52.6% in the 4th quarter. Marshall Wace LLP now owns 6,374 shares of the energy company's stock worth $359,000 after acquiring an additional 2,196 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Matador Resources by 8.9% in the 4th quarter. MetLife Investment Management LLC now owns 65,832 shares of the energy company's stock worth $3,704,000 after acquiring an additional 5,405 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Matador Resources by 242.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,975 shares of the energy company's stock worth $505,000 after acquiring an additional 6,357 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its holdings in Matador Resources by 14.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 60,885 shares of the energy company's stock worth $3,425,000 after acquiring an additional 7,585 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Trading Up 4.2%

Shares of MTDR opened at $48.2730 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The company has a 50 day simple moving average of $49.40 and a two-hundred day simple moving average of $47.63. The firm has a market cap of $6.01 billion, a P/E ratio of 7.07 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The business had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same period last year, the firm posted $2.05 EPS. The company's revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio is currently 18.30%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTDR. Morgan Stanley increased their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Mizuho reduced their target price on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Bank of America began coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 target price for the company. Raymond James Financial increased their target price on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group cut their price objective on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.60.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran bought 5,000 shares of the stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the transaction, the chief executive officer owned 6,606 shares of the company's stock, valued at $324,817.02. The trade was a 311.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.80% of the company's stock.

About Matador Resources

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.

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