Copeland Capital Management LLC Raises Stock Position in Matador Resources Company $MTDR

Key Points

• Copeland Capital Management LLC increased its stake in Matador Resources by 1.6%, owning 1,274,492 shares worth approximately $60.8 million as of the end of the second quarter.
• Multiple institutional investors significantly raised their positions in Matador Resources, with Adage Capital Partners raising its stake by 2,002.9% during the first quarter.
• Matador Resources recently declared a quarterly dividend of $0.3125 per share, representing an annualized yield of 2.9% and a dividend payout ratio of 18.30%.

Copeland Capital Management LLC lifted its position in Matador Resources Company (NYSE:MTDR - Free Report) by 1.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,274,492 shares of the energy company's stock after purchasing an additional 20,504 shares during the period. Copeland Capital Management LLC owned 1.02% of Matador Resources worth $60,819,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MTDR. Adage Capital Partners GP L.L.C. raised its position in Matador Resources by 2,002.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,051,472 shares of the energy company's stock valued at $53,720,000 after purchasing an additional 1,001,472 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Matador Resources by 7.6% in the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after acquiring an additional 956,090 shares in the last quarter. LSV Asset Management lifted its stake in Matador Resources by 50.9% in the first quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after acquiring an additional 772,071 shares during the period. Nuveen LLC purchased a new position in Matador Resources during the 1st quarter valued at about $35,715,000. Finally, Wellington Management Group LLP increased its position in Matador Resources by 30.5% during the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock valued at $104,413,000 after purchasing an additional 477,236 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MTDR. Morgan Stanley upped their price target on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Mizuho dropped their target price on Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. UBS Group reduced their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Finally, KeyCorp cut their target price on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average target price of $67.27.

Insider Transactions at Matador Resources

In related news, COO Christopher P. Calvert acquired 1,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $47.77 per share, with a total value of $47,770.00. Following the completion of the acquisition, the chief operating officer directly owned 37,500 shares of the company's stock, valued at $1,791,375. This represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Thomas Elsener bought 600 shares of Matador Resources stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of $48.46 per share, with a total value of $29,076.00. Following the purchase, the executive vice president directly owned 112,069 shares in the company, valued at $5,430,863.74. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 11,380 shares of company stock worth $549,188. Company insiders own 5.80% of the company's stock.

Matador Resources Trading Down 3.9%

Matador Resources stock opened at $43.39 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market cap of $5.40 billion, a PE ratio of 6.35 and a beta of 1.41. The stock has a 50-day moving average of $47.95 and a two-hundred day moving average of $46.78. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04.

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

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.9%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

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.

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