Bessemer Group Inc. Increases Position in Matador Resources Company $MTDR

Bessemer Group Inc. grew its position in shares of Matador Resources Company (NYSE:MTDR) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,426 shares of the energy company’s stock after purchasing an additional 44,689 shares during the period. Bessemer Group Inc. owned approximately 0.35% of Matador Resources worth $27,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources in the first quarter valued at $27,000. Kestra Investment Management LLC lifted its stake in 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 acquiring an additional 358 shares in the last quarter. Center for Financial Planning Inc. acquired a new position in Matador Resources during the 1st quarter worth about $41,000. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources during the 3rd quarter valued at about $35,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after acquiring an additional 690 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.81 on Friday. The stock’s 50-day moving average is $53.56 and its two-hundred day moving average is $52.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. Analysts forecast that Matador Resources Company will post 6.99 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 8th. Matador Resources’s dividend payout ratio is presently 38.56%.

Analyst Ratings Changes

MTDR has been the subject of several research reports. Morgan Stanley dropped their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Zacks Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Mizuho increased their target price on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price target on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.08.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the acquisition, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. The trade was a 21.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher P. Calvert acquired 1,500 shares of the company’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the transaction, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 11,907 shares of company stock valued at $635,712 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

About Matador Resources

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.