Wedge Capital Management L L P NC Purchases 21,924 Shares of Matador Resources (NYSE:MTDR)

Wedge Capital Management L L P NC increased its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 31.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,100 shares of the energy company's stock after purchasing an additional 21,924 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of Matador Resources worth $5,237,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Matador Resources by 13.0% during the third quarter. Victory Capital Management Inc. now owns 3,228,290 shares of the energy company's stock worth $192,019,000 after purchasing an additional 372,528 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Matador Resources by 10.6% during the third quarter. Clearbridge Investments LLC now owns 1,813,424 shares of the energy company's stock worth $107,862,000 after purchasing an additional 173,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Matador Resources by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,428,877 shares of the energy company's stock worth $84,990,000 after purchasing an additional 33,859 shares during the last quarter. Federated Hermes Inc. lifted its stake in Matador Resources by 1.2% during the third quarter. Federated Hermes Inc. now owns 1,089,084 shares of the energy company's stock worth $64,779,000 after purchasing an additional 13,045 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Matador Resources by 13.2% during the third quarter. Principal Financial Group Inc. now owns 902,787 shares of the energy company's stock worth $53,698,000 after purchasing an additional 105,619 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTDR has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Matador Resources from $76.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, April 18th. Mizuho raised their target price on Matador Resources from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday. TD Cowen raised their target price on Matador Resources from $64.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a research note on Tuesday, March 5th. Finally, Truist Financial raised their target price on Matador Resources from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.10.

Matador Resources Stock Performance

Shares of MTDR traded up $0.15 during trading hours on Wednesday, reaching $65.29. 3,106,785 shares of the company's stock traded hands, compared to its average volume of 1,407,138. The business's fifty day simple moving average is $65.07 and its two-hundred day simple moving average is $60.12. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 9.26 and a beta of 3.32. Matador Resources has a twelve month low of $42.04 and a twelve month high of $71.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.32. The firm had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. Matador Resources's revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. Analysts predict that Matador Resources will post 7.17 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, May 16th. Matador Resources's payout ratio is currently 11.35%.

Matador Resources Company 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.