Wellington Management Group LLP Has $104.41 Million Stock Position in Matador Resources Company $MTDR

Key Points

• Wellington Management Group LLP increased its stake in Matador Resources Company by 30.5%, now holding $104.41 million in shares.
• Matador Resources reported $1.53 earnings per share, exceeding analysts' expectations, with a revenue of $895.31 million for the quarter.
• The company announced a quarterly dividend of $0.3125 per share, with an annualized yield of 2.7% and a payout ratio of 18.30%.

Wellington Management Group LLP raised its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 30.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,043,715 shares of the energy company's stock after purchasing an additional 477,236 shares during the quarter. Wellington Management Group LLP owned 1.63% of Matador Resources worth $104,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MTDR. MCF Advisors LLC acquired a new stake in Matador Resources in the first quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Matador Resources in the first quarter worth about $28,000. Rakuten Securities Inc. boosted its stake in shares of Matador Resources by 9,090.9% in the 1st quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Matador Resources during the 4th quarter valued at approximately $68,000. Finally, Bayforest Capital Ltd increased its position in Matador Resources by 35.6% during the 1st quarter. Bayforest Capital Ltd now owns 1,858 shares of the energy company's stock worth $95,000 after purchasing an additional 488 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Price Performance

MTDR stock opened at $46.2850 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 6.78 and a beta of 1.49. The company's fifty day simple moving average is $49.47 and its 200 day simple moving average is $47.77. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04.

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

Matador Resources Dividend Announcement

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

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran acquired 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were bought 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 $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Bank of America assumed coverage on Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 price objective on the stock. Morgan Stanley increased their target price on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday. UBS Group cut their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday. KeyCorp upped their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued 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 $67.60.

About Matador Resources

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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