Strs Ohio Sells 54,095 Shares of Matador Resources Company $MTDR

Key Points

• Strs Ohio slashed its Matador Resources stake by 95.1% in the fourth quarter, selling 54,095 shares and leaving it with 2,797 shares valued at about $119,000.
• Analysts remain largely positive on MTDR, with a consensus rating of “Moderate Buy” and an average price target of $63.46 after several firms raised targets or upgraded the stock.
• Matador reported stronger-than-expected quarterly results, posting EPS of $1.53 versus $1.24 expected and revenue of $941.6 million, while also declaring a quarterly dividend of $0.375 per share.

Strs Ohio lowered its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 95.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,797 shares of the energy company's stock after selling 54,095 shares during the quarter. Strs Ohio's holdings in Matador Resources were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MTDR. Kestra Investment Management LLC raised its holdings in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after purchasing an additional 358 shares during the period. Rothschild Investment LLC raised its holdings in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company's stock worth $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources in the 3rd quarter worth approximately $35,000. Geneos Wealth Management Inc. raised its holdings in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after purchasing an additional 690 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in shares of Matador Resources in the 3rd quarter worth approximately $49,000. Institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MTDR shares. Wells Fargo & Company lifted their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Truist Financial upgraded shares of Matador Resources from a "hold" rating to a "buy" rating and lifted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday. Citigroup lifted their price objective on shares of Matador Resources from $62.00 to $77.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Weiss Ratings upgraded shares of Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, April 27th. Finally, UBS Group lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.46.

Matador Resources Stock Up 0.6%

Shares of NYSE:MTDR opened at $56.65 on Wednesday. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The firm has a fifty day moving average of $59.05 and a 200 day moving average of $48.85. The firm has a market capitalization of $7.04 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analyst estimates 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 was down 33.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.99 earnings per share. As a group, research analysts anticipate that Matador Resources Company will post 7.25 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a $0.375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.6%. Matador Resources's payout ratio is currently 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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