Mutual of America Capital Management LLC Acquires 424 Shares of Matador Resources (NYSE:MTDR)

Mutual of America Capital Management LLC increased its holdings in shares of Matador Resources (NYSE:MTDR) by 0.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 66,440 shares of the energy company’s stock after purchasing an additional 424 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Matador Resources were worth $3,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Denver PWM LLC bought a new stake in shares of Matador Resources during the second quarter worth approximately $27,000. Covestor Ltd raised its stake 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 buying an additional 227 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Matador Resources during the first quarter worth approximately $34,000. Lindbrook Capital LLC raised 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 buying an additional 273 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MTDR. JPMorgan Chase & Co. lowered their target price on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Truist Financial lowered their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Mizuho lowered their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Finally, Wolfe Research initiated coverage on shares of Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.17.

Matador Resources Stock Performance

Shares of MTDR opened at $52.20 on Monday. Matador Resources has a 12 month low of $48.22 and a 12 month high of $71.08. The firm has a fifty day simple moving average of $56.40 and a 200 day simple moving average of $60.73. 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 current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

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

Matador Resources Announces Dividend

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

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of Matador Resources stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, for a total transaction 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 approximately $2,011,342.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $50.25 per share, with a total value of $25,125.00. Following the purchase, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 12,300 shares of company stock worth $634,615. 6.10% of the stock is owned by insiders.

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.