State of Tennessee Department of Treasury Buys 7,585 Shares of Matador Resources (NYSE:MTDR)

State of Tennessee Department of Treasury grew its position in shares of Matador Resources (NYSE:MTDR) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,885 shares of the energy company’s stock after purchasing an additional 7,585 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Matador Resources were worth $3,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management increased its position in shares of Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after buying an additional 1,098,108 shares during the period. Copeland Capital Management LLC boosted its position in Matador Resources by 145.2% during the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after acquiring an additional 760,122 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after acquiring an additional 555,245 shares during the period. Raymond James Financial Inc. bought a new position in shares of Matador Resources in the 4th quarter worth about $22,509,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Matador Resources by 57.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 959,795 shares of the energy company’s stock valued at $53,998,000 after purchasing an additional 349,820 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR opened at $41.11 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a 50 day moving average price of $46.56 and a two-hundred day moving average price of $53.37. The firm has a market capitalization of $5.15 billion, a P/E ratio of 5.76 and a beta of 2.74. Matador Resources has a 52 week low of $35.19 and a 52 week high of $66.89.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Equities analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $0.3125 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 3.04%. Matador Resources’s dividend payout ratio is currently 16.78%.

Matador Resources announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTDR. Raymond James decreased their target price on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Royal Bank of Canada reduced their price objective on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. KeyCorp dropped their target price on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company reduced their price target on shares of Matador Resources from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Truist Financial lifted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 6,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $53.94 per share, with a total value of $323,640.00. Following the transaction, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This trade represents a 17.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy E. Parker purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the acquisition, the director now directly owns 83,790 shares in the company, valued at $3,742,899.30. The trade was a 2.45 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 21,350 shares of company stock valued at $1,100,769 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Matador Resources 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.