Putnam Investments LLC Has $6.92 Million Stake in Matador Resources (NYSE:MTDR)

Putnam Investments LLC decreased its stake in Matador Resources (NYSE:MTDR) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,223 shares of the energy company’s stock after selling 10,290 shares during the quarter. Putnam Investments LLC owned 0.12% of Matador Resources worth $6,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Money Concepts Capital Corp lifted its stake in Matador Resources by 202.6% in the fourth quarter. Money Concepts Capital Corp now owns 690 shares of the energy company’s stock valued at $39,000 after buying an additional 462 shares during the period. Versant Capital Management Inc bought a new stake in shares of Matador Resources in the first quarter worth about $35,000. Rockefeller Capital Management L.P. increased its holdings in shares of Matador Resources by 46.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 760 shares of the energy company’s stock worth $42,000 after acquiring an additional 242 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Matador Resources by 52.0% in the first quarter. Parallel Advisors LLC now owns 836 shares of the energy company’s stock worth $40,000 after acquiring an additional 286 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in shares of Matador Resources in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 87.23% of the company’s stock.

Wall Street Analyst Weigh In

MTDR has been the subject of several recent analyst reports. StockNews.com initiated coverage on Matador Resources in a report on Thursday, August 17th. They issued a “sell” rating for the company. Raymond James increased their price objective on Matador Resources from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Royal Bank of Canada decreased their price objective on Matador Resources from $74.00 to $70.00 in a report on Wednesday, July 12th. Truist Financial increased their price objective on Matador Resources from $70.00 to $76.00 in a report on Thursday, July 27th. Finally, Mizuho upgraded Matador Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $78.00 in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $71.89.

Matador Resources Stock Performance

MTDR opened at $61.56 on Friday. Matador Resources has a 12-month low of $42.04 and a 12-month high of $73.78. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 8.04 and a beta of 3.53. The business has a 50 day moving average of $58.72 and a 200-day moving average of $52.26. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, July 25th. The energy company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.12). The business had revenue of $638.20 million during the quarter, compared to analyst estimates of $636.91 million. Matador Resources had a net margin of 33.46% and a return on equity of 27.40%. The business’s quarterly revenue was down 32.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.47 earnings per share. On average, equities research analysts expect that Matador Resources will post 6.35 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, August 10th. This represents a $0.60 annualized dividend and a yield of 0.97%. Matador Resources’s payout ratio is currently 7.83%.

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.