Wedge Capital Management L L P NC Has $3.23 Million Stock Holdings in Matador Resources Company $MTDR

Key Points

• Wedge Capital Management increased its holdings in Matador Resources Company by 12.2% during the second quarter, now owning 67,737 shares valued at $3,232,000.
• A variety of analysts have recently upgraded Matador's rating, with TD Cowen labeling it a "strong-buy" and revisions to price targets reflecting a general positive outlook.
• Matador Resources announced a quarterly dividend of $0.3125, with an annualized dividend yield of 2.8% and a dividend payout ratio of 18.30%.

Wedge Capital Management L L P NC increased its position in Matador Resources Company (NYSE:MTDR - Free Report) by 12.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 67,737 shares of the energy company's stock after purchasing an additional 7,348 shares during the period. Wedge Capital Management L L P NC owned 0.05% of Matador Resources worth $3,232,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MTDR. Cetera Investment Advisers grew its position in Matador Resources by 24.0% in the fourth quarter. Cetera Investment Advisers now owns 8,070 shares of the energy company's stock worth $454,000 after buying an additional 1,562 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Matador Resources by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 5,430 shares of the energy company's stock valued at $305,000 after acquiring an additional 369 shares during the period. State of Wyoming raised its position in shares of Matador Resources by 11.6% in the 4th quarter. State of Wyoming now owns 2,772 shares of the energy company's stock valued at $156,000 after buying an additional 288 shares in the last quarter. Two Sigma Investments LP increased its position in Matador Resources by 16.9% in the 4th quarter. Two Sigma Investments LP now owns 29,916 shares of the energy company's stock valued at $1,683,000 after acquiring an additional 4,324 shares during the period. Finally, GTS Securities LLC lifted its stake in shares of Matador Resources by 157.7% in the fourth quarter. GTS Securities LLC now owns 20,184 shares of the energy company's stock valued at $1,136,000 after buying an additional 12,353 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Price Performance

MTDR traded up $0.47 on Monday, hitting $45.90. 1,300,412 shares of the company's stock traded hands, compared to its average volume of 1,379,519. The company's 50 day simple moving average is $48.66 and its 200-day simple moving average is $46.85. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 6.72 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. As a group, research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.7%. Matador Resources's payout ratio is 18.30%.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $49.17 per share, with a total value of $245,850.00. Following the transaction, the chief executive officer directly owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This represents a 311.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Thomas Elsener purchased 600 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $48.46 per share, for a total transaction of $29,076.00. Following the completion of the transaction, the executive vice president directly owned 112,069 shares of the company's stock, valued at approximately $5,430,863.74. This trade represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,380 shares of company stock worth $549,188 in the last quarter. Corporate insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MTDR shares. Morgan Stanley lifted their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. William Blair initiated coverage on Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating on the stock. Wells Fargo & Company cut their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. KeyCorp decreased their target price on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Finally, Mizuho lowered their target price on Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $67.27.

Matador Resources 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.