Boston Trust Walden Corp Decreases Position in Matador Resources Company $MTDR

Key Points

• Boston Trust Walden Corp cut its Matador Resources stake by 6.5% in Q1, selling 48,705 shares and ending with 699,661 shares worth about $44.2 million.
• Analyst sentiment remains constructive: Matador has a Moderate Buy consensus, with 11 Buy ratings and a consensus price target of $64.38. Recent moves included upgrades from Roth Mkm and higher targets from BMO Capital Markets and KeyCorp.
• Company insiders have been buying shares, including the CFO and COO, while Matador also paid a $0.375 quarterly dividend, equal to a 3.0% annualized yield.

Boston Trust Walden Corp decreased its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 6.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,661 shares of the energy company's stock after selling 48,705 shares during the quarter. Boston Trust Walden Corp owned about 0.56% of Matador Resources worth $44,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Matador Resources by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,670,265 shares of the energy company's stock valued at $283,089,000 after buying an additional 258,745 shares during the last quarter. State Street Corp grew its stake in shares of Matador Resources by 1.9% during the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company's stock worth $195,982,000 after acquiring an additional 86,344 shares during the last quarter. LSV Asset Management increased its holdings in shares of Matador Resources by 8.8% during the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company's stock valued at $163,055,000 after acquiring an additional 309,708 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock valued at $144,558,000 after acquiring an additional 1,342,145 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Matador Resources by 12.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company's stock valued at $142,853,000 after purchasing an additional 385,000 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTDR has been the topic of a number of recent analyst reports. Roth Mkm upgraded shares of Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research note on Monday, June 22nd. BMO Capital Markets lifted their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. UBS Group boosted their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Weiss Ratings downgraded Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Finally, KeyCorp upped their target price on Matador Resources from $61.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, April 2nd. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.38.

Insider Transactions at Matador Resources

In other news, CFO Christopher P. Calvert bought 1,500 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $53.24 per share, with a total value of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares in the company, valued at $2,209,460. The trade was a 3.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Glenn W. Stetson bought 500 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 11,907 shares of company stock valued at $635,712 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Matador Resources Price Performance

NYSE:MTDR opened at $50.16 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 12.89 and a beta of 0.74. The company has a 50 day moving average price of $55.35 and a 200-day moving average price of $52.12. 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 announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm's quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 earnings per share. Equities research analysts forecast that Matador Resources Company will post 7.25 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a $0.375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.0%. Matador Resources's dividend payout ratio is 38.56%.

Matador Resources 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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