Louisiana State Employees Retirement System Takes Position in Matador Resources Company $MTDR

Key Points

• Louisiana State Employees Retirement System opened a new position in Matador Resources in the first quarter, buying 33,900 shares worth about $2.14 million.
• Matador reported better-than-expected quarterly results, with EPS of $1.53 versus estimates of $1.24 and revenue of $941.6 million beating forecasts, even though revenue fell year over year.
• The company also paid a $0.375 quarterly dividend and saw recent insider buying from CEO Joseph Wm Foran and CFO Christopher P. Calvert, while analysts currently rate the stock a Moderate Buy with a consensus target price of $64.38.

Louisiana State Employees Retirement System acquired a new stake in Matador Resources Company (NYSE:MTDR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,900 shares of the energy company's stock, valued at approximately $2,142,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC grew its holdings in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources during the third quarter valued at approximately $35,000. Gilpin Wealth Management LLC bought a new position in Matador Resources in the fourth quarter worth approximately $42,000. Geneos Wealth Management Inc. raised its stake in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after buying an additional 690 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Matador Resources during the third quarter worth $49,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Down 0.2%

NYSE:MTDR opened at $49.80 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The company's fifty day moving average price is $55.79 and its 200-day moving average price is $52.02. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The firm has a market capitalization of $6.18 billion, a P/E ratio of 12.80 and a beta of 0.75.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The company had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm's revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 earnings per share. As a group, equities research analysts anticipate that Matador Resources Company will post 7.45 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $0.375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.0%. Matador Resources's dividend payout ratio is presently 38.56%.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the transaction, the chief executive officer owned 11,479 shares in the company, valued at $609,190.53. The trade was a 21.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Christopher P. Calvert purchased 1,500 shares of the firm's stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $53.24 per share, with a total value of $79,860.00. Following the completion of the acquisition, the chief financial officer directly owned 41,500 shares of the company's stock, valued at $2,209,460. This trade represents a 3.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 11,907 shares of company stock valued at $635,712 over the last ninety days. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Matador Resources from $75.00 to $66.00 and set an "equal weight" rating on the stock in a report on Monday. BMO Capital Markets lifted their target price on Matador Resources from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Wells Fargo & Company boosted their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Zacks Research cut shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Finally, KeyCorp boosted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and a consensus target price 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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