Connor Clark & Lunn Investment Management Ltd. Makes New $4.18 Million Investment in Matador Resources Company $MTDR

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Matador Resources Company (NYSE:MTDR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 83,892 shares of the energy company’s stock, valued at approximately $4,176,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Matador Resources in the second quarter worth $573,936,000. Dimensional Fund Advisors LP boosted its position in Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after purchasing an additional 277,839 shares during the last quarter. State Street Corp boosted its position in Matador Resources by 1.9% during the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock valued at $195,982,000 after purchasing an additional 86,344 shares during the last quarter. LSV Asset Management grew its stake in Matador Resources by 8.8% in the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock valued at $163,055,000 after purchasing an additional 309,708 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent research reports. Citigroup cut their price target on Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen raised Matador Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Stephens increased their price objective on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Morgan Stanley cut their price objective on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $66.07.

Matador Resources Stock Performance

MTDR opened at $56.74 on Friday. The company has a market cap of $7.02 billion, a PE ratio of 9.73 and a beta of 0.76. The stock has a 50-day moving average of $51.91 and a 200-day moving average of $54.79. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, equities research analysts forecast that Matador Resources Company will post 7.26 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is 25.73%.

Insider Buying and Selling at Matador Resources

In other news, EVP William Thomas Elsener acquired 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the purchase, the executive vice president owned 114,879 shares of the company’s stock, valued at $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $52.16 per share, with a total value of $521,600.00. Following the completion of the acquisition, the chief executive officer owned 25,617 shares in the company, valued at $1,336,182.72. This trade represents a 64.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 24,589 shares of company stock worth $1,285,296 over the last 90 days. Insiders own 5.90% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.