Matador Resources Company $MTDR Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors cut its Matador Resources stake by 92.3% in the first quarter, selling 165,190 shares and retaining 13,779 shares valued at $871,000. Institutional investors still own 91.98% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $66.00, despite mixed target-price adjustments from several firms.
• Matador exceeded quarterly expectations, reporting $2.61 in EPS and $1.17 billion in revenue, while revenue rose 32.5% year over year. The company also declared a quarterly dividend of $0.375 per share, representing a 3.1% annualized yield.

Pacer Advisors Inc. decreased its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 92.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,779 shares of the energy company's stock after selling 165,190 shares during the period. Pacer Advisors Inc.'s holdings in Matador Resources were worth $871,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MTDR. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company's stock valued at $439,010,000 after buying an additional 277,839 shares during the period. State Street Corp raised its position in shares of Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company's stock worth $195,982,000 after buying an additional 86,344 shares during the period. LSV Asset Management boosted its holdings in Matador Resources by 8.8% in the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company's stock valued at $163,055,000 after acquiring an additional 309,708 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Matador Resources by 65.0% in 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 acquiring an additional 1,342,145 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Matador Resources by 12.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company's stock valued at $142,853,000 after acquiring an additional 385,000 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MTDR. Stephens raised their price objective on Matador Resources from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. UBS Group decreased their target price on Matador Resources from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Weiss Ratings downgraded shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Citigroup cut their price target on shares of Matador Resources from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Finally, Roth Capital raised shares of Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.00.

Insider Activity

In other news, CFO Christopher P. Calvert acquired 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 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 position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Glenn W. Stetson acquired 500 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 11,907 shares of company stock worth $635,712. 5.90% of the stock is currently owned by company insiders.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $48.98 on Monday. The company has a market cap of $6.08 billion, a P/E ratio of 8.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84. The business's 50-day simple moving average is $51.44 and its 200 day simple moving average is $53.71.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the business earned $1.53 EPS. Matador Resources's quarterly revenue was up 32.5% compared to the same quarter last year. On average, sell-side analysts forecast that Matador Resources Company will post 6.98 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources's payout ratio is presently 25.73%.

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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