Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Matador Resources (NYSE:MTDR)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Matador Resources (NYSE:MTDR) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,965 shares of the energy company’s stock after selling 1,800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Matador Resources were worth $3,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Atria Wealth Solutions Inc. boosted its position in shares of Matador Resources by 5.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after buying an additional 195 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Matador Resources by 82.0% during the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after buying an additional 200 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Matador Resources by 6.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,665 shares of the energy company’s stock worth $265,000 after buying an additional 281 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Matador Resources by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock valued at $614,000 after purchasing an additional 294 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Matador Resources by 7.4% in the fourth quarter. QRG Capital Management Inc. now owns 4,422 shares of the energy company’s stock valued at $251,000 after purchasing an additional 306 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of recent research reports. TD Cowen lifted their target price on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Truist Financial lifted their target price on Matador Resources from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Roth Mkm reiterated a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a report on Monday, March 25th. StockNews.com upgraded Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company lifted their price target on Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.40.

Insider Transactions at Matador Resources

In other news, EVP Bryan A. Erman bought 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the transaction, the executive vice president now owns 1,750 shares of the company’s stock, valued at $97,825. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company’s stock.

Matador Resources Stock Up 1.6 %

Shares of NYSE MTDR opened at $57.06 on Wednesday. The business has a 50-day moving average of $62.53 and a two-hundred day moving average of $60.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84. Matador Resources has a 1 year low of $47.76 and a 1 year high of $71.08. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 7.82 and a beta of 3.31.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The business had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The business’s revenue was up 40.6% compared to the same quarter last year. On average, analysts forecast that Matador Resources will post 7.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

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.