Bank of America Corp DE Has $36.64 Million Stake in Matador Resources (NYSE:MTDR)

Bank of America Corp DE cut its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 651,334 shares of the energy company's stock after selling 211,669 shares during the quarter. Bank of America Corp DE owned 0.52% of Matador Resources worth $36,644,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Matador Resources by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock worth $706,375,000 after acquiring an additional 187,633 shares during the period. Dimensional Fund Advisors LP grew its stake in Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock worth $306,313,000 after acquiring an additional 30,184 shares during the period. Alliancebernstein L.P. grew its stake in Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock worth $151,824,000 after acquiring an additional 555,245 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Matador Resources by 18.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock worth $93,952,000 after purchasing an additional 258,958 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Insider Buying and Selling

In other news, Director Paul W. Harvey bought 600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now directly owns 27,917 shares in the company, valued at $1,541,018.40. This represents a 2.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $39.63 per share, for a total transaction of $99,075.00. Following the acquisition, the chief executive officer now owns 60,756 shares in the company, valued at $2,407,760.28. The trade was a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 36,200 shares of company stock valued at $1,701,872 over the last three months. Company insiders own 6.10% of the company's stock.

Matador Resources Stock Down 1.4%

NYSE MTDR traded down $0.60 during trading hours on Wednesday, reaching $43.68. 93,952 shares of the company traded hands, compared to its average volume of 1,623,294. The company has a 50 day moving average of $44.10 and a two-hundred day moving average of $52.27. The stock has a market capitalization of $5.47 billion, a PE ratio of 6.13 and a beta of 1.47. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Matador Resources's revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 EPS. As a group, equities analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources declared that its board has initiated a stock buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $0.3125 per share. The ex-dividend date is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.86%. Matador Resources's dividend payout ratio is currently 16.78%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTDR shares. Mizuho cut their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Bank of America started coverage on shares of Matador Resources in a research note on Monday. They set a "buy" rating and a $56.00 price objective for the company. KeyCorp reduced their target price on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Royal Bank of Canada lowered their price target on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Raymond James decreased their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $69.44.

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.