Principal Financial Group Inc. lifted its stake in Matador Resources (NYSE:MTDR – Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 918,443 shares of the energy company’s stock after acquiring an additional 17,612 shares during the period. Principal Financial Group Inc. owned approximately 0.77% of Matador Resources worth $43,764,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MTDR. Invesco Ltd. grew its stake in shares of Matador Resources by 82.9% in 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. GW&K Investment Management LLC lifted its position in Matador Resources by 57.9% in the first quarter. GW&K Investment Management LLC now owns 2,097,915 shares of the energy company’s stock worth $99,966,000 after purchasing an additional 769,130 shares during the period. Goldman Sachs Group Inc. lifted its position in Matador Resources by 51.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company’s stock worth $93,830,000 after purchasing an additional 685,220 shares during the period. Vanguard Group Inc. lifted its position in Matador Resources by 4.8% in the first quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after purchasing an additional 567,557 shares during the period. Finally, Federated Hermes Inc. lifted its position in Matador Resources by 77.1% in the first quarter. Federated Hermes Inc. now owns 1,256,513 shares of the energy company’s stock worth $66,570,000 after purchasing an additional 546,871 shares during the period. Institutional investors and hedge funds own 85.29% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $71.00 target price on shares of Matador Resources in a research report on Friday, July 21st. Royal Bank of Canada reduced their target price on Matador Resources from $74.00 to $70.00 in a research report on Wednesday, July 12th. Mizuho raised Matador Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $78.00 in a research report on Wednesday. KeyCorp raised their target price on Matador Resources from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, StockNews.com initiated coverage on Matador Resources in a report on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.89.
Insider Activity
In other news, CEO Joseph Wm Foran acquired 652 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $44.40 per share, for a total transaction of $28,948.80. Following the completion of the transaction, the chief executive officer now directly owns 176,120 shares in the company, valued at $7,819,728. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.00% of the stock is currently owned by corporate insiders.
Matador Resources Stock Performance
Shares of NYSE:MTDR opened at $60.99 on Friday. Matador Resources has a twelve month low of $42.04 and a twelve month high of $73.78. The firm has a market cap of $7.27 billion, a PE ratio of 7.96 and a beta of 3.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.88 and a current ratio of 0.92. The business has a fifty day moving average of $54.00 and a 200-day moving average of $52.05.
Matador Resources (NYSE:MTDR – Get Free Report) last announced its earnings results on Tuesday, July 25th. The energy company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.12). Matador Resources had a net margin of 33.46% and a return on equity of 27.40%. The business had revenue of $638.20 million during the quarter, compared to analyst estimates of $636.91 million. During the same quarter last year, the business posted $3.47 earnings per share. The business’s quarterly revenue was down 32.4% compared to the same quarter last year. On average, equities research analysts predict that Matador Resources will post 6.09 EPS for the current fiscal year.
Matador Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a $0.15 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. Matador Resources’s dividend payout ratio (DPR) is presently 7.83%.
Matador Resources Company 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.
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