Clearbridge Investments LLC Raises Position in Matador Resources (NYSE:MTDR)

Clearbridge Investments LLC grew its stake in Matador Resources (NYSE:MTDR) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,250,036 shares of the energy company’s stock after purchasing an additional 214,334 shares during the quarter. Clearbridge Investments LLC owned approximately 1.80% of Matador Resources worth $134,102,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MTDR. Janney Montgomery Scott LLC bought a new position in Matador Resources during the 1st quarter valued at $828,000. Prevail Innovative Wealth Advisors LLC lifted its position in shares of Matador Resources by 28.6% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock valued at $2,481,000 after purchasing an additional 8,254 shares in the last quarter. Burford Brothers Inc. purchased a new position in Matador Resources during the fourth quarter worth about $1,535,000. Goldman Sachs Group Inc. grew its position in Matador Resources by 31.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its stake in Matador Resources by 1,029.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock valued at $5,077,000 after buying an additional 69,298 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

MTDR has been the topic of a number of research analyst reports. Stephens boosted their target price on Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Mizuho cut their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research report on Friday, September 27th. Two equities 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.67.

Matador Resources Price Performance

MTDR opened at $50.49 on Wednesday. The firm has a 50-day moving average price of $54.70 and a 200-day moving average price of $60.09. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 6.92 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share 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 analyst estimates of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. Equities analysts expect that Matador Resources will post 7.63 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently declared 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 1.58%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. The disclosure for this purchase can be found here. Insiders acquired a total of 12,300 shares of company stock worth $634,615 over the last three months. Company insiders own 6.10% of the company’s stock.

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.