Matador Resources Company $MTDR Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp sharply increased its stake in Matador Resources, boosting its holdings by 3,571% in the first quarter to 66,519 shares worth about $4.2 million.
• Insiders have been buying shares too, with CFO Christopher P. Calvert and COO Glenn W. Stetson both making recent purchases; insiders bought 11,907 shares total over the last 90 days.
• Analysts remain mostly positive on MTDR, with 11 Buy ratings and 5 Hold ratings, and a consensus target price of $64.08. The stock was trading around $53.81, and the company recently beat quarterly earnings and revenue estimates.

Fifth Third Bancorp raised its position in Matador Resources Company (NYSE:MTDR - Free Report) by 3,571.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,519 shares of the energy company's stock after purchasing an additional 64,707 shares during the period. Fifth Third Bancorp owned 0.05% of Matador Resources worth $4,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Burford Brothers Inc. increased its holdings in Matador Resources by 0.8% in the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company's stock valued at $1,693,000 after buying an additional 225 shares during the last quarter. Fiduciary Trust Co lifted its holdings in Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company's stock worth $531,000 after buying an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company's stock worth $388,000 after buying an additional 254 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Matador Resources by 3.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company's stock worth $349,000 after acquiring an additional 278 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in shares of Matador Resources by 1.3% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 23,240 shares of the energy company's stock worth $1,468,000 after acquiring an additional 304 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Matador Resources news, CFO Christopher P. Calvert acquired 1,500 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $53.24 per share, with a total value of $79,860.00. Following the transaction, the chief financial officer owned 41,500 shares of the company's stock, valued at approximately $2,209,460. This trade represents a 3.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Glenn W. Stetson acquired 500 shares of the company'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 trade represents a 0.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 11,907 shares of company stock worth $635,712 in the last 90 days. Company insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTDR. Roth Capital raised Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research report on Monday, June 22nd. BMO Capital Markets upped their price target on Matador Resources from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Zacks Research lowered shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Truist Financial cut their price objective on shares of Matador Resources from $67.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday. Finally, KeyCorp boosted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.08.

Matador Resources Trading Up 1.4%

MTDR opened at $53.81 on Friday. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.74. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The business's 50 day moving average is $53.56 and its two-hundred day moving average is $52.83. 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 (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company's revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.99 earnings per share. On average, research analysts predict that Matador Resources Company will post 6.99 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors 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 annualized dividend and a yield of 2.8%. Matador Resources's dividend payout ratio is 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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