State of Michigan Retirement System Increases Stake in Matador Resources (NYSE:MTDR)

State of Michigan Retirement System raised its holdings in shares of Matador Resources (NYSE:MTDR) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,200 shares of the energy company’s stock after buying an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Matador Resources were worth $1,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dash Acquisitions Inc. purchased a new stake in shares of Matador Resources in the first quarter worth $6,450,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Matador Resources by 33.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 816,445 shares of the energy company’s stock worth $54,515,000 after purchasing an additional 204,285 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Matador Resources in the first quarter worth $200,000. Griffin Asset Management Inc. increased its stake in shares of Matador Resources by 7.3% in the first quarter. Griffin Asset Management Inc. now owns 73,534 shares of the energy company’s stock worth $4,910,000 after purchasing an additional 5,000 shares in the last quarter. Finally, First Dallas Securities Inc. increased its stake in shares of Matador Resources by 5.5% in the first quarter. First Dallas Securities Inc. now owns 11,119 shares of the energy company’s stock worth $742,000 after purchasing an additional 580 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. Truist Financial upped their target price on shares of Matador Resources from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Wells Fargo & Company upped their target price on shares of Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. KeyCorp upped their target price on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Mizuho upped their target price on shares of Matador Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.09.

Matador Resources Price Performance

MTDR stock opened at $60.51 on Friday. Matador Resources has a 52 week low of $49.12 and a 52 week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $60.73 and a two-hundred day simple moving average of $60.81. The firm has a market capitalization of $7.55 billion, a P/E ratio of 8.29 and a beta of 3.29.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The business had revenue of $787.70 million during the quarter, compared to analyst estimates of $740.99 million. During the same quarter last year, the business earned $1.50 earnings per share. Matador Resources’s quarterly revenue was up 40.6% compared to the same quarter last year. Analysts anticipate that Matador Resources will post 7.86 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

Insider Transactions at Matador Resources

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

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.