Thomist Capital Management LP Invests $3.99 Million in Matador Resources Company $MTDR

Key Points

• Thomist Capital Management acquired 80,200 Matador Resources shares worth approximately $3.99 million, representing about 1.3% of its portfolio and 0.06% of Matador’s outstanding stock. Institutional investors collectively own 91.98% of the company.
• Matador reported quarterly earnings of $2.61 per share, beating estimates of $2.08, while revenue rose 32.5% year over year to $1.17 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $66.07.
• The company declared a quarterly dividend of $0.375 per share, equivalent to an annualized $1.50 payout and a 2.6% yield. CEO Joseph Wm Foran and other insiders have also purchased shares in recent months.

Thomist Capital Management LP acquired a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 80,200 shares of the energy company's stock, valued at approximately $3,992,000. Matador Resources makes up approximately 1.3% of Thomist Capital Management LP's holdings, making the stock its 22nd largest position. Thomist Capital Management LP owned approximately 0.06% of Matador Resources at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MTDR. Kestra Investment Management LLC grew its stake in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after acquiring an additional 358 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Matador Resources during the first quarter valued at $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources during the third quarter valued at $35,000. Center for Financial Planning Inc. purchased a new position in shares of Matador Resources in the 1st quarter worth about $41,000. Finally, Gilpin Wealth Management LLC purchased a new position in shares of Matador Resources in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MTDR. Citigroup cut their price objective on shares of Matador Resources from $68.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Zacks Research cut shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Weiss Ratings upgraded shares of Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. Morgan Stanley dropped their target price on shares of Matador Resources from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Monday, June 29th. Finally, UBS Group increased their price target on shares of Matador Resources from $54.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.07.

Matador Resources Trading Down 1.5%

Shares of NYSE:MTDR opened at $57.50 on Tuesday. 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. The company has a market cap of $7.12 billion, a P/E ratio of 9.86 and a beta of 0.76. The stock's fifty day moving average price is $51.58 and its 200-day moving average price is $54.60.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $1.53 EPS. Matador Resources's revenue for the quarter was up 32.5% on a year-over-year basis. Sell-side analysts expect that Matador Resources Company will post 7.26 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources's dividend payout ratio (DPR) is presently 25.73%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $51.44 per share, for a total transaction of $257,200.00. Following the completion of the transaction, the chief executive officer directly owned 30,617 shares in the company, valued at approximately $1,574,938.48. This trade represents a 19.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Glenn W. Stetson bought 500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares of the company's stock, valued at $5,099,052.70. The trade was a 0.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 31,996 shares of company stock valued at $1,675,663. Insiders own 5.90% of the company's stock.

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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