Matador Resources Company $MTDR Position Lowered by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its Matador Resources stake by 8.6% in Q1, selling 122,054 shares and leaving it with 1.3 million shares valued at about $82.4 million.
• Wall Street sentiment remains positive overall, with a Moderate Buy consensus rating and a consensus price target of $64.08; several analysts recently raised targets or reiterated bullish ratings.
• Matador reported stronger-than-expected quarterly results, beating EPS and revenue estimates, while insiders also bought shares and the company paid a quarterly dividend of $0.375 per share.

Copeland Capital Management LLC lowered its position in Matador Resources Company (NYSE:MTDR - Free Report) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,304,451 shares of the energy company's stock after selling 122,054 shares during the quarter. Matador Resources comprises about 1.8% of Copeland Capital Management LLC's holdings, making the stock its 8th biggest holding. Copeland Capital Management LLC owned approximately 1.05% of Matador Resources worth $82,415,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of Matador Resources by 1,104.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company's stock worth $103,000 after buying an additional 1,845 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after acquiring an additional 690 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Matador Resources in the second quarter valued at $255,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Matador Resources in the 2nd quarter valued at $5,126,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Matador Resources by 767.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company's stock worth $156,000 after purchasing an additional 2,885 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MTDR shares. KeyCorp upped their target price on shares of Matador Resources from $61.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, April 2nd. Roth Capital upgraded shares of Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a report on Monday, June 22nd. Zacks Research cut shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Mizuho lifted their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Finally, Citigroup cut their target price on Matador Resources from $77.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

Insider Activity

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

Matador Resources Stock Performance

NYSE:MTDR opened at $53.81 on Friday. The company has a fifty day simple moving average of $53.56 and a two-hundred day simple moving average of $52.83. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business had revenue of $941.60 million for the quarter, compared to analysts' expectations of $871.57 million. During the same period last year, the firm earned $1.99 earnings per share. The company's revenue for the quarter was down 33.8% compared to the same quarter last year. As a group, equities analysts anticipate that Matador Resources Company will post 7.17 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, May 8th. Matador Resources's dividend payout ratio (DPR) is presently 38.56%.

Matador Resources Company 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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