56,096 Shares in Matador Resources Company $MTDR Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings purchased 56,096 Matador Resources shares during the second quarter, valued at approximately $2.8 million. Institutional investors and hedge funds collectively own 91.98% of MTDR.
• Matador exceeded quarterly expectations, reporting $2.61 in EPS versus the $2.08 consensus estimate and $1.17 billion in revenue, up 32.5% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $66.07, while Matador’s quarterly dividend of $0.375 represents a 2.7% annualized yield.

Hsbc Holdings PLC purchased a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 56,096 shares of the energy company's stock, valued at approximately $2,824,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Great Lakes Advisors LLC bought a new position in Matador Resources during the 2nd quarter valued at $605,000. Quantbot Technologies LP bought a new stake in shares of Matador Resources in the 2nd quarter worth $3,682,000. Morningstar Investment Management LLC purchased a new stake in shares of Matador Resources in the first quarter valued at about $2,630,000. Peterson Wealth Services lifted its position in shares of Matador Resources by 333.7% during the fourth quarter. Peterson Wealth Services now owns 51,356 shares of the energy company's stock valued at $2,180,000 after purchasing an additional 39,516 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Matador Resources during the second quarter valued at about $573,936,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Insider Buying and Selling

In other news, EVP William Thomas Elsener acquired 850 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the purchase, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Glenn W. Stetson acquired 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $53.41 per share, with a total value 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 SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 25,144 shares of company stock valued at $1,315,538. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on shares of Matador Resources from $63.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Stephens lifted their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. UBS Group boosted their target price on Matador Resources from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Citigroup reduced their target price on Matador Resources from $68.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Finally, Roth Capital raised Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and an average price target of $66.07.

Matador Resources Price Performance

MTDR opened at $56.42 on Friday. The firm has a market cap of $6.98 billion, a P/E ratio of 9.68 and a beta of 0.76. The firm has a 50-day moving average of $52.05 and a 200 day moving average of $54.81. 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 Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion for 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 revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. On average, research analysts expect that Matador Resources Company will post 7.26 EPS for the current year.

Matador Resources Announces Dividend

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

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.

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