Jefferies Financial Group Inc. Purchases New Position in Matador Resources Company $MTDR

Key Points

• Jefferies Financial Group initiated a position in Matador Resources, buying 97,749 shares valued at approximately $4.9 million. Institutional investors collectively own 91.98% of the company.
• Analysts maintain a generally positive outlook, with Matador carrying a “Moderate Buy” consensus rating and an average price target of $66.07. CEO Joseph Wm Foran and other insiders have also purchased shares recently.
• Matador exceeded quarterly expectations, reporting $2.61 in EPS and $1.17 billion in revenue, up 32.5% year over year. The company declared a $0.375 quarterly dividend, equivalent to a 2.7% annualized yield.

Jefferies Financial Group Inc. purchased a new position in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,749 shares of the energy company's stock, valued at approximately $4,866,000. Jefferies Financial Group Inc. owned approximately 0.08% of Matador Resources at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MTDR. BlackRock Inc. bought a new stake in shares of Matador Resources in the 2nd quarter worth $573,936,000. Wellington Management Group LLP lifted its position in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock valued at $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Matador Resources during the fourth quarter valued at about $53,249,000. Bank of New York Mellon Corp purchased a new position in Matador Resources during the second quarter worth about $56,161,000. Finally, Bank of America Corp DE purchased a new position in Matador Resources during the second quarter worth about $42,184,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTDR has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Matador Resources from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price target on Matador Resources from $63.00 to $79.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Roth Capital upgraded Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a report on Monday, June 22nd. Morgan Stanley cut their price objective on Matador Resources from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Monday, June 29th. Finally, Truist Financial decreased their target price on Matador Resources from $63.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average price target of $66.07.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran bought 10,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $52.16 per share, for a total transaction of $521,600.00. Following the purchase, the chief executive officer directly owned 25,617 shares in the company, valued at $1,336,182.72. This trade represents a 64.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 25,144 shares of company stock valued at $1,315,538. Company insiders own 5.90% of the company's stock.

Matador Resources Stock Down 0.6%

Shares of NYSE MTDR opened at $56.42 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The stock has a market capitalization of $6.98 billion, a PE ratio of 9.68 and a beta of 0.76. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84. The business's fifty day moving average price is $52.05 and its 200-day moving average price is $54.81.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company's revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 earnings per share. On average, equities research analysts anticipate that Matador Resources Company will post 7.26 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 annualized dividend and a yield of 2.7%. Matador Resources's dividend payout ratio (DPR) is 25.73%.

Matador Resources 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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