AQR Capital Management LLC Boosts Position in Matador Resources (NYSE:MTDR)

AQR Capital Management LLC boosted its position in Matador Resources (NYSE:MTDR) by 157.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 334,646 shares of the energy company’s stock after purchasing an additional 204,420 shares during the period. AQR Capital Management LLC’s holdings in Matador Resources were worth $19,945,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Denver PWM LLC bought a new position in shares of Matador Resources in the 2nd quarter worth approximately $27,000. Covestor Ltd raised its position in Matador Resources by 121.4% in 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. Rise Advisors LLC purchased a new position in shares of Matador Resources during the 1st quarter worth $34,000. Advisors Asset Management Inc. grew its position 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 valued at $47,000 after acquiring an additional 466 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Matador Resources in the 4th quarter worth $54,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $49.41 on Tuesday. The company has a market cap of $6.17 billion, a P/E ratio of 6.77 and a beta of 3.27. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The firm’s fifty day moving average is $54.70 and its two-hundred day moving average is $60.09.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. As a group, analysts anticipate that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Dividend Announcement

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

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $55.96 per share, with a total value of $111,920.00. Following the purchase, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Gaines Baty acquired 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares in the company, valued at $3,420,067.86. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 12,300 shares of company stock valued at $634,615. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial cut their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $75.00 target price on shares of Matador Resources in a research note on Friday. Wells Fargo & Company upped their price target on shares of Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $84.00 in a research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.83.

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.