Hodges Capital Management Inc. Has $58.17 Million Stock Holdings in Matador Resources (NYSE:MTDR)

Hodges Capital Management Inc. lessened its stake in shares of Matador Resources (NYSE:MTDR) by 30.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 871,251 shares of the energy company’s stock after selling 380,962 shares during the period. Matador Resources accounts for about 3.7% of Hodges Capital Management Inc.’s portfolio, making the stock its 2nd largest position. Hodges Capital Management Inc. owned approximately 0.73% of Matador Resources worth $58,173,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in 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 acquiring an additional 200 shares during the period. Rise Advisors LLC bought a new stake in Matador Resources in the 1st quarter worth approximately $34,000. Oakworth Capital Inc. bought a new position in shares of Matador Resources during the 4th quarter valued at $31,000. Financial Management Professionals Inc. purchased a new position in Matador Resources in the 4th quarter worth approximately $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Matador Resources during the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insiders Place Their Bets

In other Matador Resources news, EVP Bryan A. Erman acquired 1,750 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $55.90 per share, with a total value of $97,825.00. Following the transaction, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is owned by company insiders.

Matador Resources Price Performance

NYSE:MTDR traded down $0.03 during trading hours on Friday, hitting $59.60. 15,904,495 shares of the stock were exchanged, compared to its average volume of 1,648,705. Matador Resources has a 52-week low of $49.12 and a 52-week high of $71.08. The company has a market cap of $7.44 billion, a P/E ratio of 8.16 and a beta of 3.30. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $61.14 and its 200 day moving average price is $60.66.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 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 the consensus estimate of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 earnings per share. As a group, equities research analysts anticipate that Matador Resources will post 7.86 EPS for the current fiscal year.

Matador Resources Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on MTDR. JPMorgan Chase & Co. lifted their target price on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Benchmark decreased their price objective on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Truist Financial upped their target price on shares of Matador Resources from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Stephens assumed coverage on Matador Resources in a report on Friday, June 21st. They set an “overweight” rating and a $83.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Tuesday, March 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus target price of $76.09.

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.