Texas Permanent School Fund Corp Acquires 13,171 Shares of Matador Resources (NYSE:MTDR)

Texas Permanent School Fund Corp increased its holdings in shares of Matador Resources (NYSE:MTDR) by 13.6% in the second quarter, Holdings Channel.com reports. The fund owned 110,138 shares of the energy company’s stock after buying an additional 13,171 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Matador Resources were worth $6,564,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MTDR. Essex Investment Management Co. LLC increased its stake in Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after purchasing an additional 169 shares during the period. Securian Asset Management Inc. boosted its position in Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after buying an additional 170 shares during the period. Raymond James Trust N.A. boosted its position in Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after buying an additional 198 shares during the period. Covestor Ltd increased its position in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after acquiring an additional 227 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after acquiring an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR stock opened at $49.49 on Thursday. Matador Resources has a 12-month low of $48.22 and a 12-month high of $71.08. The business’s fifty day simple moving average is $57.64 and its 200-day simple moving average is $61.32. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.18 billion, a PE ratio of 6.78 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. Analysts expect that Matador Resources will post 7.83 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, August 15th. Matador Resources’s payout ratio is currently 10.96%.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now owns 40,251 shares in the company, valued at approximately $2,011,342.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Joseph Wm Foran acquired 2,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now owns 40,251 shares of the company’s stock, valued at $2,011,342.47. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bryan A. Erman bought 1,750 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at $97,825. The disclosure for this purchase can be found here. Insiders purchased 13,550 shares of company stock worth $707,150 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen increased their price objective on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wolfe Research started coverage on Matador Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company upped their price objective on shares of Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $78.17.

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.