Matador Resources (NYSE:MTDR) Shares Sold by Bank of America Corp DE

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

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Matador Resources in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after buying an additional 256 shares during the period. TCTC Holdings LLC raised its position in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock valued at $29,000 after acquiring an additional 207 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock worth $33,000 after purchasing an additional 453 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Mizuho decreased their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Matador Resources from $86.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Bank of America started coverage on Matador Resources in a report on Monday. They issued a "buy" rating and a $56.00 price target for the company. Finally, Morgan Stanley dropped their price objective on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.44.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran purchased 2,500 shares of the firm's stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 60,756 shares of the company's stock, valued at approximately $2,407,760.28. This trade represents a 4.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Van H. Singleton II bought 2,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $53.21 per share, with a total value of $106,420.00. Following the completion of the acquisition, the insider now directly owns 289,135 shares in the company, valued at $15,384,873.35. This trade represents a 0.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 36,200 shares of company stock worth $1,701,872. 6.10% of the stock is currently owned by company insiders.

Matador Resources Trading Down 0.6%

MTDR stock traded down $0.28 during trading on Monday, reaching $44.26. 1,187,669 shares of the stock were exchanged, compared to its average volume of 1,627,875. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 6.20 and a beta of 1.47. The business has a 50 day moving average price of $44.24 and a 200-day moving average price of $52.37. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89.

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

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Matador Resources announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.