Dark Forest Capital Management LP Purchases 57,019 Shares of Matador Resources Company $MTDR

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Matador Resources by acquiring 57,019 shares, raising its total ownership to 78,319 shares, valued at approximately $4 million.
• CEO Joseph Wm Foran purchased 2,000 shares of Matador at $46.25 each, enhancing his ownership by 30.28% and bringing his total shares to 8,606.
• Analysts have mixed ratings for Matador Resources, with a consensus price target of $67.60 and new bullish ratings from firms like TD Cowen and Raymond James Financial.

Dark Forest Capital Management LP raised its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 267.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,319 shares of the energy company's stock after acquiring an additional 57,019 shares during the period. Dark Forest Capital Management LP owned approximately 0.06% of Matador Resources worth $4,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. PDT Partners LLC increased its position in Matador Resources by 77.1% during the first quarter. PDT Partners LLC now owns 63,350 shares of the energy company's stock valued at $3,237,000 after acquiring an additional 27,582 shares during the last quarter. Royal Bank of Canada increased its position in Matador Resources by 13.3% during the first quarter. Royal Bank of Canada now owns 439,972 shares of the energy company's stock valued at $22,478,000 after acquiring an additional 51,499 shares during the last quarter. Beck Mack & Oliver LLC increased its position in Matador Resources by 6.8% during the first quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock valued at $77,398,000 after acquiring an additional 96,562 shares during the last quarter. Quarry LP increased its position in Matador Resources by 70.8% during the first quarter. Quarry LP now owns 859 shares of the energy company's stock valued at $44,000 after acquiring an additional 356 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in Matador Resources by 6.7% during the first quarter. Baird Financial Group Inc. now owns 113,927 shares of the energy company's stock valued at $5,821,000 after acquiring an additional 7,111 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $46.25 per share, with a total value of $92,500.00. Following the completion of the purchase, the chief executive officer directly owned 8,606 shares in the company, valued at $398,027.50. The trade was a 30.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MTDR. Mizuho lowered their target price on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial boosted their target price on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Bank of America began coverage on shares of Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 target price for the company. Finally, UBS Group lowered their target price 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 issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.60.

Matador Resources Stock Up 1.7%

NYSE:MTDR opened at $51.21 on Wednesday. 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 moving average of $49.35 and a 200 day moving average of $47.26. The firm has a market cap of $6.38 billion, a PE ratio of 7.50 and a beta of 1.49. 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 (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping 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 company had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm 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 of this dividend is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a yield of 2.4%. Matador Resources's dividend payout ratio is 18.30%.

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.

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