Tectonic Advisors LLC Invests $992,000 in Matador Resources Company $MTDR

Key Points

• Tectonic Advisors LLC has invested approximately $992,000 in Matador Resources by acquiring 20,782 shares, as reported in a recent Form 13F filing.
• Insider transactions showed Matador's CEO, Joseph Wm Foran, increased his stake by 33.2% by purchasing 2,000 shares at $48.15 per share.
• Matador Resources reported a quarterly earnings per share (EPS) of $1.53, exceeding expectations, and announced a quarterly dividend of $0.3125, yielding 2.8% annually.

Tectonic Advisors LLC purchased a new position in Matador Resources Company (NYSE:MTDR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,782 shares of the energy company's stock, valued at approximately $992,000.

Other hedge funds have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its position in Matador Resources by 2,002.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,051,472 shares of the energy company's stock valued at $53,720,000 after acquiring an additional 1,001,472 shares in the last quarter. Vanguard Group Inc. raised its position in Matador Resources by 7.6% during the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after acquiring an additional 956,090 shares in the last quarter. LSV Asset Management raised its position in Matador Resources by 50.9% during the first quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock valued at $116,964,000 after acquiring an additional 772,071 shares in the last quarter. Nuveen LLC bought a new position in Matador Resources during the first quarter valued at approximately $35,715,000. Finally, Wellington Management Group LLP raised its position in Matador Resources by 30.5% during the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock valued at $104,413,000 after acquiring an additional 477,236 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $48.15 per share, for a total transaction of $96,300.00. Following the completion of the purchase, the chief executive officer owned 8,025 shares in the company, valued at approximately $386,403.75. The trade was a 33.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Thomas Elsener acquired 600 shares of the stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of $48.46 per share, for a total transaction of $29,076.00. Following the purchase, the executive vice president owned 112,069 shares of the company's stock, valued at $5,430,863.74. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,380 shares of company stock worth $549,188. Insiders own 5.80% of the company's stock.

Matador Resources Trading Down 2.0%

Shares of Matador Resources stock opened at $44.65 on Friday. The company's fifty day simple moving average is $47.30 and its 200-day simple moving average is $46.54. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 6.54 and a beta of 1.41. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. Matador Resources's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. As a group, sell-side analysts expect that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid a $0.3125 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.8%. Matador Resources's dividend payout ratio (DPR) is presently 18.30%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MTDR shares. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group cut their price objective on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. William Blair began coverage on Matador Resources in a report on Monday, August 25th. They set an "outperform" rating on the stock. Raymond James Financial increased their price target on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, KeyCorp lowered their price target on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and an average price target of $66.50.

Matador Resources Company Profile

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.

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