Madison Asset Management LLC Acquires New Shares in Matador Resources Company $MTDR

Key Points

• Madison Asset Management acquired 298,756 Matador Resources shares worth approximately $14.9 million, taking a 0.24% stake. Institutional investors collectively own 91.98% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $66.07, although some firms recently lowered targets or downgraded the stock.
• Matador reported quarterly EPS of $2.61, surpassing estimates of $2.08, while revenue rose 32.5% year over year to $1.17 billion. The company also declared a quarterly dividend of $0.375 per share, equating to a 2.6% annualized yield.

Madison Asset Management LLC bought a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 298,756 shares of the energy company's stock, valued at approximately $14,872,000. Madison Asset Management LLC owned 0.24% of Matador Resources as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in MTDR. V Square Quantitative Management LLC purchased a new position in Matador Resources in the first quarter worth about $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 last quarter. Center for Financial Planning Inc. bought a new position in shares of Matador Resources in the 1st quarter worth approximately $41,000. Altshuler Shaham Ltd lifted its stake in shares of Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock worth $47,000 after purchasing an additional 201 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Matador Resources in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MTDR. Zacks Research downgraded Matador Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Mizuho upgraded shares of Matador Resources to a "strong-buy" rating in a research note on Friday, July 31st. Citigroup lowered their price target on shares of Matador Resources from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. UBS Group upped their price target on shares of Matador Resources from $54.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Matador Resources in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.07.

Matador Resources Trading Up 1.3%

Shares of NYSE MTDR opened at $57.98 on Thursday. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. 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 business's 50 day moving average is $51.27 and its two-hundred day moving average is $54.31. The stock has a market capitalization of $7.17 billion, a P/E ratio of 9.94 and a beta of 0.76.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.53. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business's revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 earnings per share. As a group, research analysts expect that Matador Resources Company will post 7.19 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is currently 25.73%.

Insider Buying and Selling

In other news, CFO Christopher P. Calvert acquired 1,500 shares of the business's stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $53.24 per share, with a total value of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. This represents a 3.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 10,000 shares of Matador Resources stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $52.16 per share, for a total transaction of $521,600.00. Following the completion of the transaction, the chief executive officer owned 25,617 shares of the company's stock, valued at approximately $1,336,182.72. This represents a 64.03% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 31,996 shares of company stock valued at $1,675,663. 5.90% of the stock is currently owned by insiders.

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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