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

Key Points

• Bank of New York Mellon acquired 1.13 million Matador Resources shares worth approximately $56.2 million, giving it a 0.91% stake. Institutional investors collectively own nearly 92% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $66.07, despite some firms lowering targets.
• Matador exceeded quarterly expectations with $2.61 in EPS and $1.17 billion in revenue, while insiders bought shares recently. The company also declared a quarterly dividend of $0.375 per share, representing a 2.7% annualized yield.

Bank of New York Mellon Corp purchased a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,128,184 shares of the energy company's stock, valued at approximately $56,161,000. Bank of New York Mellon Corp owned approximately 0.91% of Matador Resources at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State of Wyoming bought a new stake in shares of Matador Resources in the 2nd quarter valued at approximately $103,000. Trifecta Capital Advisors LLC bought a new position in shares of Matador Resources during the 2nd quarter valued at approximately $67,000. Oppenheimer Asset Management Inc. purchased a new stake in Matador Resources during the 2nd quarter valued at $788,000. Dockside LLC purchased a new stake in Matador Resources during the 2nd quarter valued at $5,299,000. Finally, GAMMA Investing LLC lifted its position in Matador Resources by 21.6% in the second quarter. GAMMA Investing LLC now owns 3,099 shares of the energy company's stock worth $154,000 after buying an additional 551 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MTDR. Morgan Stanley cut their price objective on shares of Matador Resources from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Monday, June 29th. Mizuho upgraded shares of Matador Resources to a "strong-buy" rating in a report on Friday, July 31st. Wall Street Zen raised shares of Matador Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. KeyCorp cut their target price on Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Finally, UBS Group upped their target price on shares of Matador Resources from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.07.

Insider Buying and Selling

In other news, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The stock was acquired 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 owned 95,470 shares of the company's stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 10,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average price of $52.16 per share, for a total transaction of $521,600.00. Following the completion of the acquisition, the chief executive officer directly owned 25,617 shares in the company, valued at approximately $1,336,182.72. This represents a 64.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 26,821 shares of company stock valued at $1,403,910. 5.90% of the stock is owned by insiders.

Matador Resources Stock Down 0.5%

Shares of Matador Resources stock opened at $55.30 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 9.49 and a beta of 0.76. The firm's 50-day moving average is $51.77 and its two-hundred day moving average is $54.73. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company's quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. As a group, research analysts expect that Matador Resources Company will post 7.26 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources's dividend payout ratio is currently 25.73%.

Matador Resources Company Profile

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.

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