Matador Resources Company $MTDR is Hodges Capital Management Inc.'s 5th Largest Position

Key Points

• Hodges Capital Management Inc. reduced its stake in Matador Resources by 45% in Q1, owning 486,475 shares totaling approximately $24.85 million, making it the firm's 5th largest position.
• Matador Resources' recent quarterly earnings surpassed estimates with $1.53 EPS, exceeding the forecast of $1.29, while the company reported a revenue of $895.31 million.
• The company announced a quarterly dividend of $0.3125 per share, representing an annual yield of 2.6%, with an 18.3% dividend payout ratio.

Hodges Capital Management Inc. reduced its position in Matador Resources Company (NYSE:MTDR - Free Report) by 45.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 486,475 shares of the energy company's stock after selling 397,372 shares during the period. Matador Resources accounts for approximately 2.5% of Hodges Capital Management Inc.'s portfolio, making the stock its 5th largest holding. Hodges Capital Management Inc. owned approximately 0.39% of Matador Resources worth $24,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after acquiring an additional 956,090 shares during the period. Dimensional Fund Advisors LP grew its holdings in Matador Resources by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company's stock valued at $279,192,000 after buying an additional 20,134 shares in the last quarter. LSV Asset Management grew its holdings in Matador Resources by 50.9% during the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock valued at $116,964,000 after buying an additional 772,071 shares in the last quarter. Wellington Management Group LLP grew its holdings in Matador Resources by 30.5% during the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock valued at $104,413,000 after buying an additional 477,236 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its holdings in Matador Resources by 6.8% during the 1st quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock valued at $77,398,000 after buying an additional 96,562 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insider Activity at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener acquired 600 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average price of $48.46 per share, for a total transaction of $29,076.00. Following the acquisition, the executive vice president directly owned 112,069 shares in the company, valued at $5,430,863.74. The trade was a 0.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 5,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $49.17 per share, with a total value of $245,850.00. Following the acquisition, the chief executive officer owned 6,606 shares in the company, valued at $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 11,380 shares of company stock worth $549,188 in the last quarter. 5.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MTDR. William Blair assumed coverage on Matador Resources in a report on Monday, August 25th. They set an "outperform" rating for the company. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. UBS Group reduced their price objective on Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. KeyCorp lowered their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Finally, Mizuho lowered their price target on Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a report on Monday. One 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 presently has an average rating of "Moderate Buy" and a consensus target price of $67.27.

Matador Resources Trading Down 0.1%

Shares of NYSE MTDR traded down $0.06 during trading hours on Wednesday, hitting $47.93. 317,514 shares of the company traded hands, compared to its average volume of 1,668,545. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 7.02 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The company's 50 day moving average price is $49.09 and its 200 day moving average price is $46.83. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.24. The firm had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS. On average, equities research analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.3125 per share. The ex-dividend date was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a yield of 2.6%. Matador Resources's payout ratio is presently 18.30%.

Matador Resources 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.