Odyssean LLC Buys 27,783 Shares of Matador Resources Company $MTDR

Odyssean LLC increased its stake in shares of Matador Resources Company (NYSE:MTDR) by 102.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,001 shares of the energy company’s stock after buying an additional 27,783 shares during the period. Odyssean LLC’s holdings in Matador Resources were worth $2,738,000 as of its most recent SEC filing.

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

Matador Resources Stock Performance

NYSE MTDR opened at $55.62 on Wednesday. The firm has a market cap of $6.88 billion, a P/E ratio of 9.54 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $51.67 and its 200-day moving average is $54.66. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $1.53 EPS. Matador Resources’s revenue for the quarter was up 32.5% on a year-over-year basis. Sell-side analysts predict that Matador Resources Company will post 7.26 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, August 10th. This represents a $1.50 annualized dividend and a dividend yield of 2.7%. Matador Resources’s dividend payout ratio is currently 25.73%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTDR. Zacks Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Morgan Stanley lowered their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. KeyCorp dropped their price target on Matador Resources from $73.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Mizuho upgraded Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.07.

Insider Buying and Selling

In related news, COO Glenn W. Stetson purchased 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran purchased 5,000 shares of Matador Resources stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $51.44 per share, with a total value of $257,200.00. Following the completion of the transaction, the chief executive officer owned 30,617 shares of the company’s stock, valued at $1,574,938.48. This represents a 19.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 27,321 shares of company stock worth $1,430,880. Insiders own 5.90% of the company’s stock.

Matador Resources 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.