Public Employees Retirement Association of Colorado Sells 686 Shares of Matador Resources (NYSE:MTDR)

Public Employees Retirement Association of Colorado lowered its position in shares of Matador Resources (NYSE:MTDR) by 0.2% in the second quarter, HoldingsChannel reports. The fund owned 423,725 shares of the energy company’s stock after selling 686 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Matador Resources were worth $25,254,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MTDR. Denver PWM LLC acquired a new position in Matador Resources in the second quarter valued at approximately $27,000. Covestor Ltd lifted its stake in shares of Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the period. Rise Advisors LLC bought a new position in shares of Matador Resources in the 1st quarter worth $34,000. Lindbrook Capital LLC grew its stake in shares of Matador Resources by 84.3% during the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after purchasing an additional 273 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MTDR. Wolfe Research started coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Stephens reduced their price objective on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. TD Cowen upped their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday, July 24th. Finally, Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $84.00 in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus target price of $77.17.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $52.20 on Friday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. Matador Resources has a 12 month low of $48.22 and a 12 month high of $71.08. The company’s fifty day simple moving average is $56.40 and its 200 day simple moving average is $60.76. 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 (NYSE:MTDR) last released its quarterly 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 firm had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. As a group, research analysts forecast that Matador Resources will post 7.83 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, August 15th. Matador Resources’s payout ratio is 10.96%.

Insiders Place Their Bets

In other Matador Resources news, Director Robert Gaines Baty acquired 500 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average cost 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Bryan A. Erman bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the acquisition, the executive vice president now owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was bought at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The disclosure for this purchase can be found here. Insiders bought a total of 12,300 shares of company stock valued at $634,615 in the last quarter. 6.10% of the stock is currently owned by insiders.

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.