Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Matador Resources (NYSE:MTDR)

Teachers Retirement System of The State of Kentucky lowered its position in Matador Resources (NYSE:MTDR) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,518 shares of the energy company’s stock after selling 1,447 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Matador Resources were worth $3,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Matador Resources in the 1st quarter worth approximately $200,000. EMC Capital Management grew its position in shares of Matador Resources by 71.1% in the 1st quarter. EMC Capital Management now owns 7,042 shares of the energy company’s stock worth $470,000 after buying an additional 2,926 shares during the last quarter. Yaupon Capital Management LP purchased a new position in shares of Matador Resources in the 1st quarter worth approximately $17,874,000. Castleark Management LLC grew its position in shares of Matador Resources by 26.0% in the 1st quarter. Castleark Management LLC now owns 68,930 shares of the energy company’s stock worth $4,602,000 after buying an additional 14,230 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Matador Resources by 21.2% in the 1st quarter. Tidal Investments LLC now owns 4,583 shares of the energy company’s stock worth $306,000 after buying an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several analysts have weighed in on MTDR shares. Truist Financial dropped their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. TD Cowen boosted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stephens dropped their target price on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 target price on shares of Matador Resources in a research report on Thursday, July 25th. Finally, Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.17.

Matador Resources Stock Performance

Shares of MTDR traded down $4.56 during trading hours on Friday, hitting $54.58. The stock had a trading volume of 2,139,530 shares, compared to its average volume of 1,650,792. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a 50-day moving average price of $60.05 and a 200 day moving average price of $61.47. Matador Resources has a fifty-two week low of $51.72 and a fifty-two week high of $71.08. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 7.47 and a beta of 3.29.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. As a group, research analysts anticipate that Matador Resources will post 7.87 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

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.