Hodges Capital Management Inc. Buys 61,050 Shares of Matador Resources Company $MTDR

Key Points

• Hodges Capital Management increased its Matador Resources stake by 11.2% in the first quarter, buying 61,050 shares and lifting its holding to 607,264 shares worth about $38.4 million.
• Matador Resources recently reported better-than-expected quarterly earnings, posting $1.53 per share versus the $1.24 consensus estimate, while revenue of $941.6 million also topped expectations.
• The company paid a quarterly dividend of $0.375 per share, equal to an annualized yield of 3.0%, and recent insider buying by the CFO and CEO suggests management has been adding to positions.

Hodges Capital Management Inc. grew its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 607,264 shares of the energy company's stock after buying an additional 61,050 shares during the quarter. Matador Resources comprises 3.2% of Hodges Capital Management Inc.'s holdings, making the stock its 2nd biggest position. Hodges Capital Management Inc. owned about 0.49% of Matador Resources worth $38,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MTDR. V Square Quantitative Management LLC acquired a new stake in Matador Resources in the first quarter worth approximately $27,000. Kestra Investment Management LLC increased its position in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after purchasing an additional 358 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources in the third quarter valued at $35,000. Geneos Wealth Management Inc. boosted its stake in Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after buying an additional 690 shares in the last quarter. Finally, Gilpin Wealth Management LLC bought a new position in Matador Resources during the fourth quarter valued at about $42,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Price Performance

NYSE MTDR opened at $50.16 on Monday. The stock's 50-day moving average price is $55.15 and its two-hundred day moving average price is $52.17. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.23 billion, a PE ratio of 12.89 and a beta of 0.74. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the firm earned $1.99 earnings per share. The business's quarterly revenue was down 33.8% on a year-over-year basis. On average, analysts predict that Matador Resources Company will post 7.25 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 3.0%. Matador Resources's dividend payout ratio (DPR) is currently 38.56%.

Insiders Place Their Bets

In other Matador Resources news, CFO Christopher P. Calvert purchased 1,500 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the acquisition, the chief financial officer owned 41,500 shares of the company's stock, valued at $2,209,460. This represents a 3.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 4,675 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the transaction, the chief executive officer directly owned 6,997 shares of the company's stock, valued at $366,362.92. This trade represents a 201.34% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 11,907 shares of company stock worth $635,712. Corporate insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Zacks Research cut shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Citigroup lowered their price objective on shares of Matador Resources from $77.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 12th. BMO Capital Markets raised their target price on shares of Matador Resources from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Mizuho upped their price target on Matador Resources from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and an average price target of $64.38.

About Matador Resources

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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