Hsbc Holdings PLC Acquires 50,678 Shares of Matador Resources Company $MTDR

Key Points

• Hsbc Holdings PLC increased its Matador Resources stake by 935.4% in the second quarter, acquiring 50,678 additional shares and ending with 56,096 shares valued at approximately $2.82 million. Institutional investors and hedge funds own 91.98% of MTDR.
• Matador reported strong quarterly results, with EPS of $2.61 versus the $2.08 consensus and revenue of $1.17 billion, up 32.5% year over year. The company also pays a quarterly dividend of $0.375 per share, equivalent to a 2.5% annual yield.
• Company insiders purchased 23,144 shares worth $1.21 million over the past three months, while analysts maintain a “Moderate Buy” consensus with an average price target of $65.93, compared with the stock’s reported $61.09 opening price.

Hsbc Holdings PLC boosted its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 935.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,096 shares of the energy company's stock after purchasing an additional 50,678 shares during the period. Hsbc Holdings PLC's holdings in Matador Resources were worth $2,824,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MTDR. Great Lakes Advisors LLC bought a new position in Matador Resources during the 2nd quarter valued at about $605,000. Quantbot Technologies LP bought a new stake in Matador Resources during the second quarter worth about $3,682,000. BlackRock Inc. bought a new stake in Matador Resources during the second quarter worth about $573,936,000. Morningstar Investment Management LLC acquired a new stake in shares of Matador Resources during the first quarter worth approximately $2,630,000. Finally, Peterson Wealth Services increased its holdings 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 worth $2,180,000 after buying an additional 39,516 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Joseph Foran acquired 555 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $54.49 per share, for a total transaction of $30,241.95. Following the completion of the acquisition, the chief executive officer owned 4,772 shares of the company's stock, valued at $260,026.28. This trade represents a 13.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher Calvert bought 2,500 shares of Matador Resources stock in a transaction on Thursday, August 27th. The shares were bought at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the acquisition, the chief financial officer owned 44,000 shares of the company's stock, valued at approximately $2,492,160. The trade was a 6.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 23,144 shares of company stock valued at $1,211,793 over the last three months. Company insiders own 5.90% of the company's stock.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $61.09 on Friday. The stock has a market capitalization of $7.56 billion, a P/E ratio of 10.48 and a beta of 0.79. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $54.02 and a two-hundred day moving average price of $55.59.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the company earned $1.53 EPS. Matador Resources's revenue was up 32.5% on a year-over-year basis. Equities analysts predict that Matador Resources Company will post 7.67 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.5%. Matador Resources's payout ratio is 25.73%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MTDR shares. KeyCorp reduced their target price on Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Stephens boosted their price objective on Matador Resources from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Wells Fargo & Company upgraded Matador Resources from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $79.00 to $77.00 in a report on Wednesday, September 2nd. UBS Group lifted their price target on Matador Resources from $54.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Finally, Zacks Research lowered shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and a consensus price target of $65.93.

Matador Resources Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador's principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.

Want to see what other hedge funds are holding MTDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matador Resources Company (NYSE:MTDR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.