Matador Resources (NYSE:MTDR) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in Matador Resources (NYSE:MTDR) by 31.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 92,100 shares of the energy company’s stock after purchasing an additional 21,924 shares during the period. Wedge Capital Management L L P NC’s holdings in Matador Resources were worth $5,237,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in shares of Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Matador Resources in the 4th quarter valued at about $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Matador Resources in the fourth quarter valued at approximately $34,000. McGlone Suttner Wealth Management Inc. bought a new position in Matador Resources in the 4th quarter worth approximately $35,000. Finally, Fifth Third Bancorp grew its stake in shares of Matador Resources by 18.3% in the third quarter. Fifth Third Bancorp now owns 1,416 shares of the energy company’s stock worth $84,000 after purchasing an additional 219 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Price Performance

Shares of MTDR stock opened at $65.19 on Wednesday. The company has a market capitalization of $7.79 billion, a P/E ratio of 9.25 and a beta of 3.32. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. Matador Resources has a 12 month low of $42.04 and a 12 month high of $71.08. The stock has a 50 day moving average of $65.07 and a two-hundred day moving average of $60.12.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business had revenue of $836.13 million during the quarter, compared to the consensus estimate of $842.96 million. During the same period last year, the firm earned $2.08 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts expect that Matador Resources will post 7.17 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. Matador Resources’s dividend payout ratio (DPR) is presently 11.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Benchmark dropped their price objective on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday. Roth Mkm restated a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a report on Monday, March 25th. Wells Fargo & Company boosted their price target on shares of Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. upped their price target on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Truist Financial raised their price objective on Matador Resources from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.10.

Matador Resources Profile

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.