PDT Partners LLC Increases Stock Position in Matador Resources Company $MTDR

Key Points

• PDT Partners LLC increased its holdings in Matador Resources Company by 77.1%, owning 63,350 shares worth approximately $3.24 million after purchasing an additional 27,582 shares.
• Analysts have a positive outlook for Matador Resources, with a consensus target price of $67.60 and several firms upgrading their price objectives recently.
• Matador Resources announced a quarterly dividend of $0.3125 per share, resulting in an annualized dividend of $1.25 and a yield of 2.5% as of August.

PDT Partners LLC grew its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 77.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,350 shares of the energy company's stock after acquiring an additional 27,582 shares during the quarter. PDT Partners LLC owned 0.05% of Matador Resources worth $3,237,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MCF Advisors LLC acquired a new position in Matador Resources during the first quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Matador Resources during the first quarter worth $28,000. Quarry LP grew its stake in shares of Matador Resources by 70.8% during the first quarter. Quarry LP now owns 859 shares of the energy company's stock worth $44,000 after buying an additional 356 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Matador Resources during the first quarter worth $50,000. Finally, Rakuten Securities Inc. grew its stake in shares of Matador Resources by 9,090.9% during the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock worth $52,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on MTDR shares. William Blair started coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating on the stock. Bank of America started coverage on shares of Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. Raymond James Financial lifted their price target on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. KeyCorp cut their price target on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $67.53.

Matador Resources Stock Up 2.3%

NYSE:MTDR traded up $1.10 during trading hours on Thursday, reaching $50.03. The company had a trading volume of 2,003,105 shares, compared to its average volume of 1,297,131. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 7.33 and a beta of 1.49. The business's 50-day simple moving average is $49.40 and its two-hundred day simple moving average is $47.23. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The business had revenue of $895.31 million during the quarter, compared to analysts' expectations of $892.86 million. During the same period last year, the company posted $2.05 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is 18.30%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 5,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, with a total value of $245,850.00. Following the completion of the purchase, the chief executive officer owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This represents a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.80% of the company's stock.

About Matador Resources

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.