Freestone Grove Partners LP Acquires New Holdings in Matador Resources (NYSE:MTDR)

Freestone Grove Partners LP bought a new position in shares of Matador Resources (NYSE:MTDR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 343,011 shares of the energy company’s stock, valued at approximately $19,298,000. Freestone Grove Partners LP owned 0.27% of Matador Resources at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. LSV Asset Management boosted its position in shares of Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the period. Copeland Capital Management LLC lifted its stake 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 worth $72,223,000 after purchasing an additional 760,122 shares in the last quarter. Webs Creek Capital Management LP acquired a new position in Matador Resources during the fourth quarter worth $37,894,000. Alliancebernstein L.P. boosted its position in shares of Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after buying an additional 555,245 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Matador Resources in the fourth quarter valued at $22,509,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

Shares of MTDR opened at $40.49 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. The stock has a 50 day moving average price of $45.42 and a 200 day moving average price of $53.00. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 5.67 and a beta of 2.74.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same period last year, the firm posted $1.71 EPS. The company’s revenue was up 28.7% on a year-over-year basis. Research analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources announced that its board has approved a stock buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Matador Resources Announces Dividend

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. This represents a $1.25 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, May 9th. Matador Resources’s payout ratio is currently 16.78%.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the purchase, the chief executive officer now directly owns 39,379 shares in the company, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Van H. Singleton II acquired 2,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $53.21 per share, for a total transaction of $106,420.00. Following the completion of the purchase, the insider now owns 289,135 shares of the company’s stock, valued at $15,384,873.35. This trade represents a 0.70 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 27,650 shares of company stock valued at $1,358,389 in the last three months. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of research analyst reports. UBS Group started coverage on Matador Resources in a report on Tuesday, April 22nd. They set a “neutral” rating and a $47.00 target price for the company. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Friday, January 3rd. Morgan Stanley reduced their target price on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Truist Financial boosted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada reduced their price objective on Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.