Kingsview Wealth Management LLC Acquires New Holdings in Matador Resources Company $MTDR

Kingsview Wealth Management LLC bought a new stake in Matador Resources Company (NYSE:MTDR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 74,778 shares of the energy company’s stock, valued at approximately $3,722,000. Kingsview Wealth Management LLC owned about 0.06% of Matador Resources at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC boosted its holdings in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Matador Resources in the 1st quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources during the 3rd quarter worth approximately $35,000. Center for Financial Planning Inc. bought a new position in shares of Matador Resources during the 1st quarter worth approximately $41,000. Finally, Gilpin Wealth Management LLC purchased a new stake in Matador Resources during the fourth quarter valued at approximately $42,000. 91.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $53.41 per share, with a total value of $26,705.00. Following the transaction, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 555 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $54.49 per share, for a total transaction of $30,241.95. Following the purchase, the chief executive officer owned 4,772 shares in the company, valued at approximately $260,026.28. The trade was a 13.16% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 25,144 shares of company stock valued at $1,315,538. 5.90% of the stock is owned by company insiders.

Matador Resources Stock Down 0.6%

NYSE:MTDR opened at $56.42 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a market cap of $6.98 billion, a PE ratio of 9.68 and a beta of 0.76. The company’s 50 day moving average is $52.05 and its two-hundred day moving average is $54.81.

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

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s dividend payout ratio (DPR) is 25.73%.

Analyst Ratings Changes

Several research firms have issued reports on MTDR. Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. UBS Group raised their price objective on Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Truist Financial dropped their target price on Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Citigroup reduced their target price on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Mizuho upgraded Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.07.

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.