Odyssean LLC Purchases 27,783 Shares of Matador Resources Company $MTDR

Key Points

• Odyssean LLC doubled its Matador Resources position during the second quarter, purchasing 27,783 shares to hold 55,001 shares valued at approximately $2.74 million. Institutional investors own 91.98% of the company.
• Matador reported quarterly earnings of $2.61 per share, exceeding 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, representing a 2.7% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $66.07, compared with the stock’s $55.62 opening price. Insiders also bought 27,321 shares worth approximately $1.43 million during the last quarter.

Odyssean LLC lifted its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 102.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,001 shares of the energy company's stock after purchasing an additional 27,783 shares during the quarter. Odyssean LLC's holdings in Matador Resources were worth $2,738,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in Matador Resources by 1,104.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company's stock valued at $103,000 after purchasing an additional 1,845 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after buying an additional 690 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Matador Resources in the second quarter valued at $255,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Matador Resources in the second quarter valued at $5,126,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Matador Resources by 767.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company's stock valued at $156,000 after buying an additional 2,885 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of analyst reports. KeyCorp lowered their target price on shares of Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. UBS Group lifted their price target on Matador Resources from $54.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Weiss Ratings raised Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Citigroup lowered their price objective on Matador Resources from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Finally, Roth Capital upgraded Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.07.

Matador Resources Stock Performance

NYSE MTDR opened at $55.62 on Wednesday. The company has a fifty day moving average price of $51.67 and a 200-day moving average price of $54.66. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 9.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84.

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, beating analysts' consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm earned $1.53 earnings per share. The firm's revenue was up 32.5% on a year-over-year basis. As a group, equities research analysts predict that Matador Resources Company will post 7.26 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 annualized dividend and a yield of 2.7%. Matador Resources's dividend payout ratio (DPR) is 25.73%.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener bought 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the acquisition, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. The trade was a 0.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $52.16 per share, with a total value of $521,600.00. Following the completion of the transaction, the chief executive officer directly owned 25,617 shares of the company's stock, valued at $1,336,182.72. The trade was a 64.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 27,321 shares of company stock worth $1,430,880 in the last quarter. 5.90% of the stock is owned by corporate 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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