Matador Resources Company $MTDR Stake Lessened by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in Matador Resources Company (NYSE:MTDR) by 92.3% during the 1st quarter, HoldingsChannel reports. The fund owned 13,779 shares of the energy company’s stock after selling 165,190 shares during the period. Pacer Advisors Inc.’s holdings in Matador Resources were worth $871,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Matador Resources during the 1st quarter worth $27,000. Kestra Investment Management LLC raised its stake in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of Matador Resources during the first quarter worth about $41,000. Altshuler Shaham Ltd lifted its position in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources during the third quarter worth about $35,000. 91.98% of the stock is currently owned by institutional investors.

Insider Transactions at Matador Resources

In related news, CFO Christopher P. Calvert acquired 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the acquisition, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the purchase, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 11,907 shares of company stock valued at $635,712. Company insiders own 5.90% of the company’s stock.

Matador Resources Stock Down 0.2%

MTDR stock opened at $48.98 on Monday. The stock has a market cap of $6.08 billion, a PE ratio of 8.40 and a beta of 0.76. The firm’s 50-day simple moving average is $51.44 and its 200 day simple moving average is $53.71. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm’s revenue was up 32.5% compared to the same quarter last year. During the same period last year, the firm earned $1.53 EPS. As a group, sell-side analysts predict that Matador Resources Company will post 6.98 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s dividend payout ratio is currently 25.73%.

Wall Street Analyst Weigh In

MTDR has been the subject of several research analyst reports. Stephens boosted their price objective on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Citigroup reduced their target price on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, July 20th. UBS Group lowered their price target on Matador Resources from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Mizuho raised Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

About Matador Resources

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.