Royce & Associates LP Has $13.45 Million Holdings in Matador Resources Company $MTDR

Key Points

• Royce & Associates LP increased its stake in Matador Resources by 6.5% in the fourth quarter, bringing its holdings to 316,915 shares valued at about $13.45 million.
• Institutional ownership remains very high, with 91.98% of Matador Resources shares held by institutional investors and hedge funds; several other funds also recently boosted their positions.
• Matador posted stronger-than-expected quarterly results and pays a dividend, reporting EPS of $1.53 versus the $1.24 estimate and revenue of $941.6 million, while announcing a quarterly dividend of $0.375 per share, or $1.50 annualized.

Royce & Associates LP grew its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 316,915 shares of the energy company's stock after purchasing an additional 19,363 shares during the period. Royce & Associates LP owned about 0.26% of Matador Resources worth $13,450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTDR. CIBC Bancorp USA Inc. acquired a new stake in shares of Matador Resources in the third quarter valued at approximately $61,615,000. Balyasny Asset Management L.P. raised its holdings in shares of Matador Resources by 488.5% in the second quarter. Balyasny Asset Management L.P. now owns 477,218 shares of the energy company's stock valued at $22,773,000 after purchasing an additional 396,129 shares during the last quarter. UBS Group AG raised its holdings in shares of Matador Resources by 94.6% in the third quarter. UBS Group AG now owns 746,767 shares of the energy company's stock valued at $33,552,000 after purchasing an additional 362,970 shares during the last quarter. LSV Asset Management raised its holdings in shares of 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 purchasing an additional 309,708 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Matador Resources by 30.6% in the second quarter. AQR Capital Management LLC now owns 1,302,587 shares of the energy company's stock valued at $62,159,000 after purchasing an additional 305,352 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTDR has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Matador Resources from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, May 22nd. UBS Group raised their target price on shares of Matador Resources from $50.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Truist Financial raised shares of Matador Resources from a "hold" rating to a "buy" rating and raised their target price for the company from $60.00 to $67.00 in a research note on Tuesday, May 12th. Wells Fargo & Company raised their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Finally, Weiss Ratings cut shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $65.08.

Matador Resources Trading Down 2.4%

MTDR stock opened at $52.50 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The company has a fifty day moving average price of $59.54 and a two-hundred day moving average price of $50.28. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 13.50 and a beta of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.29. The firm had revenue of $941.60 million during the quarter, compared to analysts' expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company's revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 earnings per share. Equities analysts anticipate that Matador Resources Company will post 7.36 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, May 8th. Matador Resources's payout ratio is presently 38.56%.

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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