Seven Eight Capital LP Purchases New Stake in Matador Resources (NYSE:MTDR)

Seven Eight Capital LP acquired a new position in Matador Resources (NYSE:MTDR) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 14,613 shares of the energy company’s stock, valued at approximately $871,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Denver PWM LLC purchased a new position in shares of Matador Resources in the 2nd quarter valued at about $27,000. Covestor Ltd grew its position in 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 buying an additional 227 shares during the period. Rise Advisors LLC purchased a new position in Matador Resources in the first quarter valued at about $34,000. Lindbrook Capital LLC lifted its position in shares of Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after acquiring an additional 273 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after acquiring an additional 466 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Price Performance

MTDR stock opened at $52.20 on Friday. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 52-week low of $48.22 and a 52-week high of $71.08. The stock’s fifty day simple moving average is $56.40 and its 200-day simple moving average is $60.76.

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

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insiders Place Their Bets

In other news, Director Robert Gaines Baty acquired 500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the acquisition, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robert Gaines Baty bought 500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the acquisition, the director now owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan A. Erman purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,300 shares of company stock valued at $634,615 over the last quarter. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

MTDR has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Mizuho lowered their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Truist Financial lowered their price target on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.17.

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.