TimesSquare Capital Management LLC Makes New $17.06 Million Investment in Matador Resources Company $MTDR

Key Points

• TimesSquare Capital Management acquired 342,759 Matador Resources shares worth approximately $17.06 million, representing about 0.28% of the company. Institutional investors collectively own 91.98% of MTDR.
• Matador reported quarterly EPS of $2.61, beating estimates of $2.08, while revenue rose 32.5% year over year to $1.17 billion. The company also declared a quarterly dividend of $0.375 per share, equal to a 2.7% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $66.07, compared with the reported share price of $55.84; recent insider purchases totaled 31,596 shares.

TimesSquare Capital Management LLC purchased a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 342,759 shares of the energy company's stock, valued at approximately $17,063,000. TimesSquare Capital Management LLC owned approximately 0.28% of Matador Resources at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd boosted its holdings in shares of Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock worth $47,000 after buying an additional 201 shares during the last quarter. Burford Brothers Inc. increased its holdings in Matador Resources by 0.8% during the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company's stock worth $1,693,000 after buying an additional 225 shares during the last quarter. Fiduciary Trust Co increased its holdings in Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company's stock worth $531,000 after buying an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company's stock worth $388,000 after acquiring an additional 254 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in Matador Resources by 3.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company's stock worth $349,000 after acquiring an additional 278 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Up 4.0%

Shares of NYSE:MTDR opened at $55.84 on Tuesday. The firm has a market capitalization of $6.91 billion, a PE ratio of 9.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. 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 $51.14 and a 200 day moving average of $54.13.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $1.53 EPS. Matador Resources's revenue for the quarter was up 32.5% on a year-over-year basis. As a group, research analysts anticipate that Matador Resources Company will post 7.11 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources's dividend payout ratio is 25.73%.

Insider Activity

In other news, EVP William Thomas Elsener bought 850 shares of the company's stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the acquisition, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Glenn W. Stetson bought 500 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 31,596 shares of company stock valued at $1,654,207. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen upgraded Matador Resources from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company boosted their target price on Matador Resources from $63.00 to $79.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. UBS Group upped their price target on Matador Resources from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Matador Resources in a research note on Friday, August 7th. Finally, Zacks Research lowered Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average price target of $66.07.

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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