Bank of New York Mellon Corp Cuts Stock Position in Matador Resources Company (NYSE:MTDR)

Bank of New York Mellon Corp cut its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,047 shares of the energy company's stock after selling 73,598 shares during the period. Bank of New York Mellon Corp owned about 0.91% of Matador Resources worth $58,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. purchased a new stake in shares of Matador Resources during the first quarter worth approximately $263,000. GAMMA Investing LLC increased its stake in shares of Matador Resources by 42.8% during the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after buying an additional 809 shares during the period. Delphi Management Inc. MA increased its stake in shares of Matador Resources by 118.6% during the first quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock worth $1,190,000 after buying an additional 12,642 shares during the period. Retirement Systems of Alabama increased its stake in shares of Matador Resources by 15.9% during the first quarter. Retirement Systems of Alabama now owns 326,134 shares of the energy company's stock worth $16,662,000 after buying an additional 44,641 shares during the period. Finally, Boston Trust Walden Corp increased its stake in shares of Matador Resources by 0.6% during the first quarter. Boston Trust Walden Corp now owns 1,075,611 shares of the energy company's stock worth $54,953,000 after buying an additional 6,251 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matador Resources

In related news, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The stock was acquired at an average price of $41.53 per share, for a total transaction of $41,530.00. Following the completion of the purchase, the executive vice president directly owned 93,180 shares of the company's stock, valued at $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,500 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $39.63 per share, with a total value of $99,075.00. Following the purchase, the chief executive officer directly owned 60,756 shares of the company's stock, valued at approximately $2,407,760.28. The trade was a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 14,850 shares of company stock valued at $601,103. Corporate insiders own 5.80% of the company's stock.

Matador Resources Price Performance

MTDR stock opened at $52.47 on Friday. The company has a market capitalization of $6.57 billion, a P/E ratio of 7.04 and a beta of 1.46. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $66.89. The business has a 50 day simple moving average of $46.84 and a 200-day simple moving average of $49.89. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same period in the prior year, the company earned $1.71 earnings per share. The company's revenue was up 28.7% compared to the same quarter last year. As a group, equities analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources announced that its board has approved 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 reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTDR. JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Bank of America began coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target for the company. Wells Fargo & Company lowered their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Mizuho lowered their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and a consensus price target of $69.06.

About Matador Resources

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.

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