31,100 Shares in Matador Resources (NYSE:MTDR) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in Matador Resources (NYSE:MTDR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,100 shares of the energy company’s stock, valued at approximately $1,768,000.

Several other hedge funds have also recently bought and sold shares of MTDR. Raymond James Financial Services Advisors Inc. lifted its stake in Matador Resources by 5.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,398 shares of the energy company’s stock worth $763,000 after acquiring an additional 738 shares in the last quarter. US Bancorp DE lifted its stake in Matador Resources by 2.1% in the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock worth $635,000 after acquiring an additional 246 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Matador Resources by 28.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company’s stock worth $804,000 after acquiring an additional 3,373 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Matador Resources by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company’s stock worth $3,129,000 after purchasing an additional 20,684 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Matador Resources during the 1st quarter worth about $214,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent research reports. Raymond James cut their price target on Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Wells Fargo & Company raised their price objective on Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Tuesday, March 5th. TD Cowen raised their price objective on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, KeyCorp cut their price objective on Matador Resources from $76.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.40.

Matador Resources Stock Performance

MTDR opened at $64.73 on Friday. The firm has a market capitalization of $7.74 billion, a P/E ratio of 9.18 and a beta of 3.32. The stock’s 50 day moving average price is $64.52 and its two-hundred day moving average price is $59.86. The company has a quick ratio of 0.98, a current ratio of 1.04 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.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). The business had revenue of $836.13 million during the quarter, compared to analyst estimates of $842.96 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. On average, equities analysts forecast that Matador Resources will post 7.04 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, February 22nd. Matador Resources’s dividend payout ratio (DPR) is currently 11.35%.

Matador Resources Company 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.