The Manufacturers Life Insurance Company Acquires Shares of 84,211 Matador Resources Company $MTDR

The Manufacturers Life Insurance Company acquired a new position in Matador Resources Company (NYSE:MTDR) in the second quarter, HoldingsChannel.com reports. The fund acquired 84,211 shares of the energy company’s stock, valued at approximately $4,192,000.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in shares of Matador Resources by 1,104.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock valued at $103,000 after acquiring an additional 1,845 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after purchasing an additional 690 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Matador Resources in the 2nd quarter worth about $255,000. Arrowstreet Capital Limited Partnership purchased a new position in Matador Resources during the second quarter worth approximately $5,126,000. Finally, EverSource Wealth Advisors LLC boosted its position in Matador Resources by 767.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after purchasing an additional 2,885 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, June 22nd. Weiss Ratings upgraded Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. KeyCorp decreased their target price 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. Wall Street Zen raised shares of Matador Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, UBS Group boosted their price target on shares of Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.07.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher P. Calvert purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the purchase, the chief financial officer owned 44,000 shares of the company’s stock, valued at approximately $2,492,160. This represents a 6.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 27,644 shares of company stock worth $1,457,138 over the last three months. 5.90% of the stock is owned by corporate insiders.

Matador Resources Stock Performance

NYSE MTDR opened at $59.24 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The stock’s 50 day simple moving average is $52.38 and its 200-day simple moving average is $55.01. The company has a market cap of $7.33 billion, a PE ratio of 10.16 and a beta of 0.79. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results 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 return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, equities research analysts anticipate that Matador Resources Company will post 7.26 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.5%. Matador Resources’s dividend payout ratio is presently 25.73%.

Matador Resources Company 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.