1,128,184 Shares in Matador Resources Company $MTDR Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new stake in shares of Matador Resources Company (NYSE:MTDR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,128,184 shares of the energy company’s stock, valued at approximately $56,161,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTDR. Kestra Investment Management LLC increased its holdings in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Matador Resources in the 1st quarter worth approximately $27,000. Measured Wealth Private Client Group LLC purchased a new stake in Matador Resources during the 3rd quarter worth approximately $35,000. Center for Financial Planning Inc. purchased a new stake in Matador Resources during the 1st quarter worth approximately $41,000. Finally, Gilpin Wealth Management LLC acquired a new position in Matador Resources during the 4th quarter valued at approximately $42,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Price Performance

Shares of MTDR opened at $55.30 on Thursday. The business’s 50-day moving average is $51.77 and its two-hundred day moving average is $54.73. The company has a market capitalization of $6.84 billion, a P/E ratio of 9.49 and a beta of 0.76. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The company’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 earnings per share. Research analysts predict that Matador Resources Company will post 7.26 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.7%. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.

Insider Activity

In other news, CFO Christopher P. Calvert bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. This trade represents a 3.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This represents a 0.53% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 26,821 shares of company stock valued at $1,403,910 in the last quarter. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MTDR. Stephens lifted their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. KeyCorp reduced their target price on Matador Resources from $73.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wells Fargo & Company lifted their price target on Matador Resources from $63.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Citigroup reduced their price objective on Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.07.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.