Dimensional Fund Advisors LP Purchases 356,506 Shares of Matador Resources (NYSE:MTDR)

Dimensional Fund Advisors LP boosted its position in Matador Resources (NYSE:MTDR) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,734,819 shares of the energy company’s stock after acquiring an additional 356,506 shares during the period. Dimensional Fund Advisors LP owned 3.79% of Matador Resources worth $282,196,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTDR. QRG Capital Management Inc. lifted its stake in Matador Resources by 7.4% in the fourth quarter. QRG Capital Management Inc. now owns 4,422 shares of the energy company’s stock valued at $251,000 after buying an additional 306 shares during the period. Kingsview Wealth Management LLC acquired a new position in Matador Resources in the fourth quarter valued at about $469,000. PNC Financial Services Group Inc. lifted its stake in Matador Resources by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock valued at $614,000 after buying an additional 294 shares during the period. Coldstream Capital Management Inc. lifted its stake in Matador Resources by 28.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,047 shares of the energy company’s stock valued at $287,000 after buying an additional 1,122 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in Matador Resources by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 1,820,404 shares of the energy company’s stock valued at $103,508,000 after buying an additional 6,980 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

NYSE MTDR opened at $51.96 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 12-month low of $48.22 and a 12-month high of $71.08. The company has a market capitalization of $6.48 billion, a PE ratio of 7.12 and a beta of 3.27. The firm’s 50 day moving average is $57.09 and its 200-day moving average is $61.05.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm’s revenue was up 32.8% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share. Equities research analysts anticipate that Matador Resources will post 7.83 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. Matador Resources’s payout ratio is 10.96%.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the acquisition, the chief executive officer now owns 40,251 shares in the company, valued at $2,011,342.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the transaction, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the transaction, the chief executive officer now owns 40,251 shares of the company’s stock, valued at $2,011,342.47. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,300 shares of company stock worth $634,615. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of research analyst reports. TD Cowen raised their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research initiated coverage on Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Mizuho dropped their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Truist Financial dropped their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $77.17.

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.