Thrivent Financial for Lutherans Has $44.74 Million Stock Holdings in Matador Resources Company $MTDR

Key Points

• Thrivent Financial for Lutherans increased its stake in Matador Resources by 2.1% in the fourth quarter, holding 1,054,232 shares valued at about $44.7 million.
• Matador Resources recently reported better-than-expected earnings, posting $1.53 EPS versus the $1.24 consensus and revenue of $941.6 million, though revenue still fell 33.8% from a year earlier.
• The company declared a quarterly dividend of $0.375 per share, implying an annualized yield of 2.5%, while analysts currently rate the stock Moderate Buy with a consensus target price of $63.46.

Thrivent Financial for Lutherans lifted its stake in Matador Resources Company (NYSE:MTDR - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,054,232 shares of the energy company's stock after acquiring an additional 21,630 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.85% of Matador Resources worth $44,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MTDR. CIBC Bancorp USA Inc. acquired a new position in shares of Matador Resources in the third quarter worth $61,615,000. Balyasny Asset Management L.P. increased its stake 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 worth $22,773,000 after acquiring an additional 396,129 shares during the last quarter. UBS Group AG increased its stake 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 worth $33,552,000 after acquiring an additional 362,970 shares during the last quarter. AQR Capital Management LLC increased its stake 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 worth $62,159,000 after acquiring an additional 305,352 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Matador Resources by 4.2% in the third quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company's stock worth $288,079,000 after acquiring an additional 259,299 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Stock Up 4.1%

MTDR stock opened at $60.34 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a 50-day moving average of $59.34 and a two-hundred day moving average of $49.18. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $941.60 million during the quarter, compared to analysts' expectations of $871.57 million. During the same period in the prior year, the company earned $1.99 earnings per share. The business's quarterly revenue was down 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources Company will post 7.42 EPS for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, May 8th. Matador Resources's dividend payout ratio is 38.56%.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of research reports. Weiss Ratings downgraded shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. KeyCorp upped their price target on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Wells Fargo & Company upped their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. BMO Capital Markets upped their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Morgan Stanley decreased their price objective on shares of Matador Resources from $56.00 to $52.00 and set an "equal weight" rating for the company in a report on Friday, January 23rd. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.46.

Matador Resources Profile

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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