ClearBridge Investments, an investment management firm, published its “Small Cap Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Strategy underperformed its Russell 2000 Index benchmark during the third quarter. On an absolute basis, the Strategy had losses in nine out of 11 sectors in which it was invested during the quarter. The leading detractors were the IT and communication services sectors, positive contributors included the consumer staples sector and the utility sector was flat for the period. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, ClearBridge Investments Small Cap Strategy mentioned Matador Resources Company (NYSE:MTDR) and explained its insights for the company. Founded in 2003, Matador Resources Company (NYSE:MTDR) is a Dallas, Texas-based independent energy company with an $8.1 billion market capitalization. Matador Resources Company (NYSE:MTDR) delivered a 86.70% return since the beginning of the year, while its 12-month returns are up by 57.23. The stock closed at $68.93 per share on November 22, 2022.
Here is what ClearBridge Investments Small Cap Strategy has to say about Matador Resources Company (NYSE:MTDR) in its Q3 2022 investor letter:
“We added Matador Resources (NYSE:MTDR), an oil and natural gas exploration and production company. The company has carefully acquired high-quality acreage across the Permian basin of West Texas and New Mexico that we believe could provide up to 20 years of consistent drilling activity. Additionally, the company is the majority owner of its infrastructure and midstream provider, which provides the company with a valuable asset and right of first call on transport capacity, which we believe is a hidden asset not reflected in the company’s share price.”
Our calculations show that Matador Resources Company (NYSE:MTDR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Matador Resources Company (NYSE:MTDR) was in 24 hedge fund portfolios at the end of the second quarter of 2022, compared to 24 funds in the previous quarter. Matador Resources Company (NYSE:MTDR) delivered a 12.23% return in the past 3 months.
In October 2022, we published an article that includes Matador Resources Company (NYSE:MTDR) in 10 Best Crude Oil Stocks To Buy Today. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.