Hodges Capital Management Inc. Decreases Stock Position in Matador Resources Company $MTDR

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. cut its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 45.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 486,475 shares of the energy company's stock after selling 397,372 shares during the quarter. Matador Resources makes up 2.5% of Hodges Capital Management Inc.'s portfolio, making the stock its 5th largest holding. Hodges Capital Management Inc. owned about 0.39% of Matador Resources worth $24,854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTDR. D.A. Davidson & CO. bought a new position in shares of Matador Resources in the first quarter valued at about $263,000. GAMMA Investing LLC raised its holdings in shares of Matador Resources by 42.8% in the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock valued at $138,000 after buying an additional 809 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Matador Resources during the 1st quarter worth about $885,000. Delphi Management Inc. MA raised its holdings in Matador Resources by 118.6% during the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock worth $1,190,000 after purchasing an additional 12,642 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in Matador Resources during the 1st quarter worth about $200,000. 91.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $46.25 per share, with a total value of $92,500.00. Following the completion of the acquisition, the chief executive officer owned 8,606 shares of the company's stock, valued at $398,027.50. This represents a 30.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company's stock.

Matador Resources Stock Down 1.8%

NYSE:MTDR traded down $0.87 during trading hours on Friday, reaching $47.72. 1,126,581 shares of the stock were exchanged, compared to its average volume of 1,244,562. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a 50 day moving average of $49.23 and a 200 day moving average of $46.86. The stock has a market cap of $5.94 billion, a PE ratio of 6.99 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.29 by $0.24. The company had revenue of $895.31 million during 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 firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 EPS. On average, equities analysts expect that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTDR. Morgan Stanley boosted their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. KeyCorp dropped their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. TD Cowen raised Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Bank of America started coverage on Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price target for the company. Finally, UBS Group lowered their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.53.

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.