Matador Resources (NYSE:MTDR) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its stake in Matador Resources (NYSE:MTDR) by 101.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 734,626 shares of the energy company’s stock after purchasing an additional 370,388 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.59% of Matador Resources worth $41,330,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in Matador Resources by 16.1% during the third quarter. Barclays PLC now owns 190,035 shares of the energy company’s stock worth $9,391,000 after purchasing an additional 26,289 shares in the last quarter. Tidal Investments LLC purchased a new stake in Matador Resources during the third quarter worth about $423,000. Franklin Resources Inc. lifted its position in shares of Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Matador Resources by 34.6% in the fourth quarter. GAMMA Investing LLC now owns 1,889 shares of the energy company’s stock valued at $106,000 after purchasing an additional 486 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Matador Resources by 26.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 35,003 shares of the energy company’s stock valued at $1,969,000 after purchasing an additional 7,354 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTDR has been the subject of several recent research reports. Stephens decreased their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. KeyCorp decreased their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Truist Financial boosted their price objective on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley cut 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 research note on Thursday, March 27th. 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, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

Insiders Place Their Bets

In other Matador Resources news, insider Van H. Singleton II purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $53.21 per share, with a total value of $106,420.00. Following the acquisition, the insider now directly owns 289,135 shares of the company’s stock, valued at $15,384,873.35. This represents a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Wm Foran acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the acquisition, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 30,900 shares of company stock valued at $1,490,879. 6.10% of the stock is owned by company insiders.

Matador Resources Price Performance

MTDR stock opened at $39.66 on Tuesday. The business has a 50 day simple moving average of $44.95 and a 200-day simple moving average of $52.86. The company has a market capitalization of $4.97 billion, a P/E ratio of 5.55 and a beta of 2.74. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data 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. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company 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. Matador Resources’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, May 9th. Matador Resources’s dividend payout ratio is presently 16.78%.

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

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.