Creative Planning Raises Position in Matador Resources (NYSE:MTDR)

Posted by Defense World Staff on Jun 4th, 2023

Creative Planning lifted its stake in Matador Resources (NYSE:MTDR – Get Rating) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,096 shares of the energy company’s stock after purchasing an additional 2,401 shares during the period. Creative Planning’s holdings in Matador Resources were worth $1,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its position in Matador Resources by 82.9% during the first quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock worth $231,403,000 after acquiring an additional 1,979,904 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Matador Resources by 51.6% during the second quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company’s stock worth $93,830,000 after buying an additional 685,220 shares during the period. Neuberger Berman Group LLC grew its stake in Matador Resources by 38.4% during the third quarter. Neuberger Berman Group LLC now owns 2,294,629 shares of the energy company’s stock worth $112,253,000 after buying an additional 636,431 shares during the period. Vanguard Group Inc. grew its stake in Matador Resources by 4.8% during the first quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after buying an additional 567,557 shares during the period. Finally, Federated Hermes Inc. grew its stake in Matador Resources by 77.1% during the first quarter. Federated Hermes Inc. now owns 1,256,513 shares of the energy company’s stock worth $66,570,000 after buying an additional 546,871 shares during the period. Institutional investors and hedge funds own 87.00% of the company’s stock.

Insider Activity

In other Matador Resources news, Director Timothy E. Parker purchased 4,500 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was acquired at an average price of $43.52 per share, with a total value of $195,840.00. Following the acquisition, the director now directly owns 71,636 shares of the company’s stock, valued at approximately $3,117,598.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Timothy E. Parker purchased 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were bought at an average price of $43.52 per share, for a total transaction of $195,840.00. Following the completion of the transaction, the director now 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 accessible through the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $48.77 per share, for a total transaction of $97,540.00. Following the transaction, the chief executive officer now owns 171,468 shares of the company’s stock, valued at $8,362,494.36. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 13,177 shares of company stock valued at $589,595. 5.60% of the stock is owned by insiders.

Matador Resources Price Performance

NYSE MTDR opened at $47.33 on Friday. The business has a 50 day simple moving average of $47.51 and a 200 day simple moving average of $54.62. Matador Resources has a 52-week low of $41.17 and a 52-week high of $73.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.64 and a current ratio of 1.67. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 4.85 and a beta of 3.56.

Matador Resources (NYSE:MTDR – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The energy company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.26. The company had revenue of $502.90 million during the quarter, compared to analysts’ expectations of $514.24 million. Matador Resources had a net margin of 38.33% and a return on equity of 37.11%. The business’s quarterly revenue was down 19.7% on a year-over-year basis. During the same period last year, the business earned $2.32 EPS. Analysts anticipate that Matador Resources will post 6.8 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Wednesday, May 10th. Matador Resources’s payout ratio is presently 6.15%.

Analyst Ratings Changes

MTDR has been the topic of a number of recent research reports. Benchmark reduced their target price on shares of Matador Resources from $75.00 to $71.00 in a research report on Tuesday, April 18th. Raymond James boosted their target price on shares of Matador Resources from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Mizuho reduced their target price on shares of Matador Resources from $72.00 to $66.00 in a research report on Friday, March 10th. JPMorgan Chase & Co. boosted their target price on shares of Matador Resources from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, April 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $78.00 price target on shares of Matador Resources in a report on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $70.56.

Matador Resources 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.