State of New Jersey Common Pension Fund D Raises Stock Holdings in Matador Resources Company $MTDR

State of New Jersey Common Pension Fund D increased its position in Matador Resources Company (NYSE:MTDR) by 19.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,198 shares of the energy company’s stock after acquiring an additional 6,971 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Matador Resources were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new position in Matador Resources in the 1st quarter worth $263,000. GAMMA Investing LLC raised its stake in Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock worth $138,000 after acquiring an additional 809 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Matador Resources in the 1st quarter worth $885,000. OneDigital Investment Advisors LLC purchased a new position in Matador Resources in the 1st quarter worth $200,000. Finally, Penserra Capital Management LLC raised its stake in Matador Resources by 89.9% in the 1st quarter. Penserra Capital Management LLC now owns 15,570 shares of the energy company’s stock worth $795,000 after acquiring an additional 7,369 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

NYSE:MTDR opened at $39.65 on Thursday. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $4.93 billion, a PE ratio of 6.33 and a beta of 1.41. The stock’s 50-day moving average price is $45.80 and its 200-day moving average price is $46.25.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The firm had revenue of $939.02 million for the quarter, compared to analysts’ expectations of $893.22 million. During the same period last year, the firm earned $1.89 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be given a dividend of $0.375 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, November 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.8%. Matador Resources’s payout ratio is 19.97%.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $48.15 per share, for a total transaction of $96,300.00. Following the acquisition, the chief executive officer owned 8,025 shares in the company, valued at approximately $386,403.75. This represents a 33.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christopher P. Calvert acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $47.77 per share, for a total transaction of $47,770.00. Following the completion of the acquisition, the chief operating officer owned 37,500 shares in the company, valued at $1,791,375. The trade was a 2.74% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 11,380 shares of company stock worth $549,188 in the last ninety days. Company insiders own 5.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MTDR shares. KeyCorp cut their price target on Matador Resources from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. TD Cowen raised Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. Morgan Stanley dropped their target price on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Royal Bank Of Canada raised their target price on Matador Resources from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, Bank of America dropped their target price on Matador Resources from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.93.

Matador Resources 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.