Hodges Capital Management Inc. Has $44.81 Million Holdings in Matador Resources Company $MTDR

Key Points

• Hodges Capital Management Inc. has decreased its stake in Matador Resources Company by 0.8%, owning 877,005 shares worth approximately $44.81 million, representing 2.9% of its total holdings.
• Matador Resources recently reported a quarterly earnings per share of $1.53, surpassing analysts' expectations, with a revenue of $895.31 million, up 8.2% compared to the previous year.
• The company's stock is currently down 3.8%, with analysts giving it a consensus rating of "Moderate Buy" and an average price target of $67.53.

Hodges Capital Management Inc. lowered its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 877,005 shares of the energy company's stock after selling 6,842 shares during the period. Matador Resources accounts for approximately 2.9% of Hodges Capital Management Inc.'s holdings, making the stock its 2nd largest position. Hodges Capital Management Inc. owned about 0.70% of Matador Resources worth $44,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC bought a new position in shares of Matador Resources during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Matador Resources in the 1st quarter valued at $28,000. Quarry LP lifted its holdings in Matador Resources by 70.8% during the 1st quarter. Quarry LP now owns 859 shares of the energy company's stock valued at $44,000 after purchasing an additional 356 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Matador Resources during the first quarter worth $50,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Matador Resources by 9,090.9% in the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Price Performance

MTDR traded up $2.10 on Wednesday, hitting $49.36. 1,169,606 shares of the stock were exchanged, compared to its average volume of 1,256,241. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 6.53 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 Company has a 12 month low of $35.19 and a 12 month high of $64.04. The business has a 50-day moving average of $49.34 and a two-hundred day moving average of $46.99.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results 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 company had revenue of $895.31 million during the quarter, compared to analysts' expectations of $892.86 million. During the same period in the previous year, the company earned $2.05 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, August 15th. Matador Resources's payout ratio is currently 18.30%.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $46.25 per share, with a total value of $92,500.00. Following the acquisition, the chief executive officer owned 8,606 shares in the company, valued at $398,027.50. This trade represents a 30.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MTDR. William Blair initiated coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. Wells Fargo & Company reduced their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Bank of America initiated coverage on shares of Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. Mizuho cut their price objective 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. Finally, UBS Group decreased their target price on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.53.

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.