Matador Resources Company $MTDR Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its holdings in Matador Resources by 18.1%, now owning approximately 0.05% of the company, valued at $3.33 million.
• Matador Resources reported earnings of $1.53 EPS for the latest quarter, exceeding analysts' expectations of $1.29, with an annual revenue increase of 8.2%.
• The company declared a quarterly dividend of $0.3125 per share, resulting in an annualized yield of 2.5%, with the ex-dividend date set for August 15th.

Comerica Bank reduced its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,251 shares of the energy company's stock after selling 14,460 shares during the quarter. Comerica Bank owned about 0.05% of Matador Resources worth $3,334,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after purchasing an additional 956,090 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock valued at $116,964,000 after buying an additional 772,071 shares during the period. Nuveen LLC purchased a new stake in shares of Matador Resources in the first quarter valued at approximately $35,715,000. Wellington Management Group LLP boosted its stake in shares of Matador Resources by 30.5% in the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock valued at $104,413,000 after buying an additional 477,236 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Matador Resources by 101.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock worth $41,330,000 after acquiring an additional 370,388 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Price Performance

Shares of NYSE:MTDR traded up $1.19 on Thursday, hitting $50.12. The company had a trading volume of 652,642 shares, compared to its average volume of 1,682,704. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The company has a market cap of $6.24 billion, a PE ratio of 7.33 and a beta of 1.49. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The business has a 50 day moving average of $49.37 and a 200 day moving average of $47.28.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, equities analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 15th. Matador Resources's payout ratio is currently 18.30%.

Insider Activity

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $46.25 per share, with a total value of $92,500.00. Following the completion of the transaction, the chief executive officer directly owned 8,606 shares of the company's stock, valued at $398,027.50. This trade represents a 30.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on MTDR shares. Raymond James Financial raised their target price on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. William Blair began coverage on shares of Matador Resources in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Bank of America started coverage on Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Mizuho reduced their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $67.53.

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.