Bessemer Group Inc. Boosts Stock Position in Matador Resources (NYSE:MTDR)

Bessemer Group Inc. grew its stake in shares of Matador Resources (NYSE:MTDR) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 283,272 shares of the energy company’s stock after buying an additional 18,770 shares during the period. Bessemer Group Inc.’s holdings in Matador Resources were worth $18,914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MTDR. Goldman Sachs Group Inc. lifted its holdings in Matador Resources by 31.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares in the last quarter. Element Capital Management LLC purchased a new position in Matador Resources in the 1st quarter worth approximately $28,572,000. Public Employees Retirement Association of Colorado lifted its holdings in Matador Resources by 14,874.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock worth $24,309,000 after purchasing an additional 424,665 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Matador Resources by 44.8% in the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after purchasing an additional 329,522 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Matador Resources by 38.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock worth $68,706,000 after acquiring an additional 285,954 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Down 0.6 %

Shares of MTDR stock traded down $0.38 during mid-day trading on Thursday, hitting $61.30. The stock had a trading volume of 395,438 shares, compared to its average volume of 1,524,073. Matador Resources has a 12-month low of $51.72 and a 12-month high of $71.08. The firm has a market capitalization of $7.65 billion, a P/E ratio of 8.45 and a beta of 3.29. The firm’s 50-day moving average is $60.27 and its two-hundred day moving average is $61.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.93% and a net margin of 29.01%. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 EPS. On average, analysts predict that Matador Resources will post 7.88 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Buying and Selling

In other Matador Resources news, EVP Bryan A. Erman purchased 1,750 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the purchase, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday. Truist Financial cut their target price on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company boosted their target price on Matador Resources from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $80.00 to $84.00 in a research report on Thursday. Finally, TD Cowen upped their price objective on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

About Matador Resources

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.