Griffin Asset Management Inc. Buys 5,000 Shares of Matador Resources (NYSE:MTDR)

Griffin Asset Management Inc. increased its stake in shares of Matador Resources (NYSE:MTDR) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,534 shares of the energy company’s stock after purchasing an additional 5,000 shares during the quarter. Griffin Asset Management Inc. owned approximately 0.06% of Matador Resources worth $4,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MTDR. Vanguard Group Inc. increased its holdings in shares of Matador Resources by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 11,020,992 shares of the energy company’s stock worth $626,654,000 after buying an additional 83,067 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Matador Resources by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock worth $229,083,000 after acquiring an additional 87,299 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Matador Resources by 6.3% in the 4th quarter. Victory Capital Management Inc. now owns 3,430,593 shares of the energy company’s stock worth $195,064,000 after purchasing an additional 202,303 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Matador Resources by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 1,820,404 shares of the energy company’s stock valued at $103,508,000 after purchasing an additional 6,980 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTDR shares. Mizuho raised their price objective on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 14th. Roth Mkm reissued a “buy” rating and issued a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. Benchmark decreased their price objective on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. KeyCorp lifted their target price on Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Truist Financial increased their price target on Matador Resources from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $76.09.

Insider Activity

In other news, EVP Bryan A. Erman acquired 1,750 shares of Matador Resources stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $55.90 per share, with a total value of $97,825.00. Following the completion of the purchase, the executive vice president now owns 1,750 shares of the company’s stock, valued at approximately $97,825. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.10% of the company’s stock.

Matador Resources Trading Down 0.1 %

Shares of Matador Resources stock traded down $0.03 on Friday, hitting $59.60. 15,904,495 shares of the company’s stock traded hands, compared to its average volume of 1,648,705. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 8.16 and a beta of 3.30. The company has a fifty day moving average of $61.14 and a two-hundred day moving average of $60.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84. Matador Resources has a one year low of $49.12 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. The firm had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. During the same period in the prior year, the business earned $1.50 EPS. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, sell-side analysts expect that Matador Resources will post 7.86 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

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.