Allspring Global Investments Holdings LLC Increases Stock Position in Matador Resources Company $MTDR

Allspring Global Investments Holdings LLC increased its holdings in shares of Matador Resources Company (NYSE:MTDR) by 637.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 460,080 shares of the energy company’s stock after purchasing an additional 397,712 shares during the period. Allspring Global Investments Holdings LLC owned 0.37% of Matador Resources worth $27,908,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MTDR. Wellington Management Group LLP raised its stake in Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in Matador Resources during the 4th quarter valued at $53,249,000. Balyasny Asset Management L.P. increased its holdings in shares of Matador Resources by 2,495.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Matador Resources by 12.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock valued at $142,853,000 after acquiring an additional 385,000 shares during the period. Finally, UBS Group AG raised its position in shares of Matador Resources by 94.6% in the 3rd quarter. UBS Group AG now owns 746,767 shares of the energy company’s stock worth $33,552,000 after acquiring an additional 362,970 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MTDR. BMO Capital Markets upped their price objective on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Truist Financial decreased their price target on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.77.

Insider Buying and Selling

In other news, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the acquisition, the chief executive officer directly owned 11,479 shares in the company, valued at approximately $609,190.53. The trade was a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 11,907 shares of company stock valued at $635,712 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Matador Resources Trading Down 0.5%

Shares of Matador Resources stock opened at $53.51 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 13.76 and a beta of 0.74. The firm’s 50 day simple moving average is $53.51 and its two-hundred day simple moving average is $52.99.

Matador Resources (NYSE:MTDR) last released its earnings results 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. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. During the same period in the prior year, the firm earned $1.99 EPS. The firm’s revenue was down 33.8% on a year-over-year basis. Analysts predict that Matador Resources Company will post 6.99 EPS for the current year.

Matador Resources Dividend Announcement

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

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.