Matador Resources (NYSE:MTDR) Shares Purchased by Russell Investments Group Ltd.

Posted by on May 13th, 2023

Russell Investments Group Ltd. boosted its stake in shares of Matador Resources (NYSE:MTDR – Get Rating) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,017 shares of the energy company’s stock after acquiring an additional 12,532 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of Matador Resources worth $9,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Matador Resources by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock valued at $658,165,000 after purchasing an additional 567,557 shares in the last quarter. State Street Corp boosted its holdings in shares of Matador Resources by 7.0% during the first quarter. State Street Corp now owns 5,777,669 shares of the energy company’s stock worth $306,101,000 after purchasing an additional 377,853 shares during the last quarter. Invesco Ltd. boosted its holdings in Matador Resources by 82.9% in the first quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock valued at $231,403,000 after acquiring an additional 1,979,904 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Matador Resources by 3.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,326,071 shares of the energy company’s stock valued at $201,552,000 after acquiring an additional 135,179 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Matador Resources by 6.8% in the third quarter. Alliancebernstein L.P. now owns 4,297,740 shares of the energy company’s stock valued at $210,245,000 after acquiring an additional 273,444 shares during the last quarter. 87.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $42.40 per share, with a total value of $84,800.00. Following the completion of the purchase, the chief executive officer now owns 175,468 shares of the company’s stock, valued at $7,439,843.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Timothy E. Parker purchased 4,500 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average cost of $43.52 per share, with a total value of $195,840.00. Following the completion of the purchase, the director now directly owns 71,636 shares of the company’s stock, valued at $3,117,598.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were bought at an average cost of $42.40 per share, for a total transaction of $84,800.00. Following the completion of the purchase, the chief executive officer now directly owns 175,468 shares of the company’s stock, valued at $7,439,843.20. The disclosure for this purchase can be found here. Insiders acquired 12,300 shares of company stock valued at $549,835 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTDR. Raymond James raised their price objective on Matador Resources from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $78.00 price objective on shares of Matador Resources in a report on Thursday, February 23rd. JPMorgan Chase & Co. lifted their target price on Matador Resources from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, April 14th. Benchmark reduced their price objective on Matador Resources from $75.00 to $71.00 in a research report on Tuesday, April 18th. Finally, StockNews.com started coverage on Matador Resources in a research report on Thursday, March 16th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Matador Resources Stock Up 0.6 %

Shares of MTDR opened at $43.64 on Friday. The company has a 50-day simple moving average of $48.43 and a 200-day simple moving average of $57.13. The firm has a market capitalization of $5.20 billion, a P/E ratio of 4.47 and a beta of 3.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.64 and a current ratio of 1.67. Matador Resources has a 52 week low of $41.17 and a 52 week high of $73.78.

Matador Resources (NYSE:MTDR – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The energy company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.26. The business had revenue of $502.90 million during the quarter, compared to analyst estimates of $514.24 million. Matador Resources had a net margin of 38.33% and a return on equity of 37.11%. The firm’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.32 earnings per share. On average, equities research analysts expect that Matador Resources will post 6.91 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.37%. The ex-dividend date is Wednesday, May 10th. Matador Resources’s dividend payout ratio (DPR) is presently 6.15%.

Matador Resources Company Profile

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Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.

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Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

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