Meeder Asset Management Inc. Purchases New Stake in Matador Resources Company $MTDR

Meeder Asset Management Inc. purchased a new stake in shares of Matador Resources Company (NYSE:MTDR) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 117,269 shares of the energy company’s stock, valued at approximately $5,838,000.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Matador Resources in the second quarter worth about $573,936,000. Dimensional Fund Advisors LP lifted its holdings in Matador Resources by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after buying an additional 277,839 shares during the period. State Street Corp lifted its holdings in Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after buying an additional 86,344 shares during the period. LSV Asset Management grew its position in shares of Matador Resources by 8.8% in the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after buying an additional 309,708 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after buying an additional 1,342,145 shares during the period. Institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $51.44 per share, with a total value of $257,200.00. Following the transaction, the chief executive officer owned 30,617 shares of the company’s stock, valued at $1,574,938.48. This trade represents a 19.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher P. Calvert bought 1,500 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, with a total value of $79,860.00. Following the completion of the acquisition, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 31,596 shares of company stock valued at $1,654,207. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MTDR shares. Wells Fargo & Company raised their price target on Matador Resources from $63.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Monday, June 22nd. Citigroup cut their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Matador Resources in a research note on Friday, August 7th. Finally, Truist Financial lowered their price objective on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $66.07.

Matador Resources Stock Up 4.0%

Shares of Matador Resources stock opened at $55.84 on Tuesday. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 9.58 and a beta of 0.76. The company has a 50-day moving average of $51.14 and a 200 day moving average of $54.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company earned $1.53 earnings per share. The business’s revenue was up 32.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Matador Resources Company will post 7.11 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, August 10th. Matador Resources’s payout ratio is 25.73%.

Matador Resources Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.