9,426 Shares in Matador Resources (NYSE:MTDR) Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new stake in Matador Resources (NYSE:MTDR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,426 shares of the energy company’s stock, valued at approximately $562,000.

Other large investors have also modified their holdings of the company. Ensign Peak Advisors Inc lifted its position in Matador Resources by 25.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 63,503 shares of the energy company’s stock worth $3,785,000 after acquiring an additional 12,850 shares during the period. Sei Investments Co. raised its stake in shares of Matador Resources by 40.7% during the second quarter. Sei Investments Co. now owns 98,581 shares of the energy company’s stock worth $5,875,000 after purchasing an additional 28,517 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Matador Resources during the second quarter worth $6,061,000. Goehring & Rozencwajg Associates LLC grew its position in Matador Resources by 11.2% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 272,072 shares of the energy company’s stock valued at $16,215,000 after buying an additional 27,300 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Matador Resources in the 2nd quarter valued at $465,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, July 24th. Truist Financial reduced their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Matador Resources in a report on Friday. Wolfe Research began coverage on Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.17.

Insider Activity at Matador Resources

In other news, Director Robert Gaines Baty bought 500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Matador Resources news, Director Robert Gaines Baty bought 500 shares of Matador Resources stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the acquisition, the director now directly 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 the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The disclosure for this purchase can be found here. Insiders purchased 12,300 shares of company stock worth $634,615 in the last quarter. 6.10% of the stock is owned by company insiders.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $52.53 on Tuesday. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 7.20 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a 12 month low of $48.22 and a 12 month high of $71.08. The stock’s 50 day moving average price is $56.16 and its 200 day moving average price is $60.64.

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

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio is 10.96%.

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.