Empowered Funds LLC Purchases New Position in Matador Resources Company $MTDR

Key Points

• Empowered Funds LLC acquired 74,906 Matador Resources shares worth approximately $3.7 million, joining other institutions that increased positions; institutional investors collectively own 91.98% of the company.
• Matador reported strong quarterly results, with EPS of $2.61 beating estimates by $0.53 and revenue rising 32.5% year over year to $1.17 billion. The company also declared a $0.375 quarterly dividend, equivalent to a 2.5% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $66.07, while insiders have purchased 27,644 shares worth about $1.46 million over the past three months.

Empowered Funds LLC purchased a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,906 shares of the energy company's stock, valued at approximately $3,729,000. Empowered Funds LLC owned about 0.06% of Matador Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings 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 buying an additional 1,845 shares in the last quarter. Geneos Wealth Management Inc. raised its stake 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 acquiring an additional 690 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Matador Resources during the 2nd quarter worth $255,000. Arrowstreet Capital Limited Partnership purchased a new stake in Matador Resources in the second quarter valued at $5,126,000. Finally, EverSource Wealth Advisors LLC lifted its position in Matador Resources by 767.3% in the second 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 during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $59.24 on Wednesday. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a 50-day moving average price of $52.38 and a 200 day moving average price of $55.01. The company has a market cap of $7.33 billion, a P/E ratio of 10.16 and a beta of 0.79. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm's quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. Research analysts predict that Matador Resources Company will post 7.26 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 annualized dividend and a yield of 2.5%. Matador Resources's dividend payout ratio is presently 25.73%.

Insiders Place Their Bets

In related news, EVP William Thomas Elsener purchased 850 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $50.94 per share, with a total value of $43,299.00. Following the purchase, the executive vice president directly owned 114,879 shares in the company, valued at $5,851,936.26. This trade represents a 0.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the purchase, the chief operating officer owned 95,470 shares in the company, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 27,644 shares of company stock worth $1,457,138. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTDR. Wall Street Zen raised Matador Resources from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Wells Fargo & Company boosted their target price on Matador Resources from $63.00 to $79.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Morgan Stanley decreased their target price on Matador Resources from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Monday, June 29th. Zacks Research downgraded Matador Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Finally, Truist Financial cut their price target on Matador Resources from $63.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $66.07.

Matador Resources Company 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.

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