Oxbow Advisors LLC Invests $8.35 Million in Matador Resources Company $MTDR

Oxbow Advisors LLC acquired a new stake in shares of Matador Resources Company (NYSE:MTDR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 167,686 shares of the energy company’s stock, valued at approximately $8,347,000. Oxbow Advisors LLC owned 0.14% of Matador Resources at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Matador Resources during the second quarter worth $573,936,000. Dimensional Fund Advisors LP increased 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 valued at $439,010,000 after buying an additional 277,839 shares during the period. State Street Corp raised its stake in shares of Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock valued at $195,982,000 after buying an additional 86,344 shares in the last quarter. LSV Asset Management raised its stake 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 valued at $163,055,000 after buying an additional 309,708 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after acquiring an additional 1,342,145 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Up 2.3%

Shares of NYSE MTDR opened at $57.23 on Wednesday. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. The business has a fifty day moving average of $51.21 and a two-hundred day moving average of $54.22. The stock has a market cap of $7.08 billion, a PE ratio of 9.82 and a beta of 0.76.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 EPS. As a group, equities research analysts expect that Matador Resources Company will post 7.19 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. Matador Resources’s payout ratio is 25.73%.

Insider Activity

In other news, EVP William Thomas Elsener acquired 850 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the purchase, the executive vice president owned 114,879 shares of the company’s stock, valued at $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher P. Calvert acquired 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, with a total value of $79,860.00. Following the acquisition, the chief financial officer owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 31,596 shares of company stock valued at $1,654,207 over the last three months. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MTDR. KeyCorp decreased their target price on shares of Matador Resources from $73.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Stephens increased their price target on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Citigroup cut their price target on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matador Resources in a report on Friday, August 7th. Finally, Wells Fargo & Company lifted their price objective on Matador Resources from $63.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.07.

Matador Resources Company 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.