Rafferty Asset Management LLC Boosts Position in Matador Resources (NYSE:MTDR)

Rafferty Asset Management LLC grew its holdings in Matador Resources (NYSE:MTDRFree Report) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,380 shares of the energy company’s stock after acquiring an additional 13,862 shares during the period. Rafferty Asset Management LLC’s holdings in Matador Resources were worth $7,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Parkside Financial Bank & Trust boosted its position in shares of Matador Resources by 82.0% in the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after buying an additional 200 shares during the period. Oakworth Capital Inc. purchased a new position in Matador Resources in the 4th quarter worth approximately $31,000. Financial Management Professionals Inc. acquired a new stake in Matador Resources in the fourth quarter valued at approximately $34,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Matador Resources during the fourth quarter valued at approximately $35,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Matador Resources during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MTDR. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a report on Tuesday, March 5th. Wells Fargo & Company lifted their price objective on Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. lifted their price target on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Benchmark decreased their price target on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Matador Resources has an average rating of “Moderate Buy” and a consensus price target of $74.80.

View Our Latest Research Report on Matador Resources

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $57.78 on Thursday. Matador Resources has a 12 month low of $45.71 and a 12 month high of $71.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84. The stock’s 50 day moving average price is $64.51 and its 200 day moving average price is $60.54. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 7.92 and a beta of 3.30.

Matador Resources (NYSE:MTDRGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The firm had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. During the same period in the previous year, the business earned $1.50 earnings per share. Matador Resources’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources will post 7.68 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 16th. Matador Resources’s dividend payout ratio is presently 10.96%.

About Matador Resources

(Free Report)

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.

Further Reading

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

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