Matador Resources Company $MTDR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its stake in Matador Resources by 19,119 shares (0.1%) in Q4 but still owns 14,761,769 shares — about 11.88% of the company valued at $626.5 million, and institutional investors hold 91.98% of the stock.
• Wall Street is broadly positive with an average rating of "Moderate Buy" and a consensus price target of $62.62 (one Strong Buy, nine Buy, six Hold), while several firms have recently raised targets.
• Matador reported a quarterly EPS beat ($0.87 vs. $0.71) despite revenue falling 15.7% year-over-year and slightly missing estimates, and it declared a $0.375 quarterly dividend ($1.50 annual, 2.4% yield) with an ex-dividend date of May 8.

Vanguard Group Inc. lowered its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 0.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,761,769 shares of the energy company's stock after selling 19,119 shares during the period. Vanguard Group Inc. owned approximately 11.88% of Matador Resources worth $626,489,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its stake in Matador Resources by 16.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 64,794 shares of the energy company's stock valued at $2,750,000 after acquiring an additional 8,973 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Matador Resources by 19.6% during the fourth quarter. Copeland Capital Management LLC now owns 1,426,505 shares of the energy company's stock worth $60,541,000 after purchasing an additional 233,423 shares during the period. M&T Bank Corp raised its position in shares of Matador Resources by 19.7% during the fourth quarter. M&T Bank Corp now owns 10,173 shares of the energy company's stock worth $432,000 after purchasing an additional 1,672 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Matador Resources by 17.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 233,212 shares of the energy company's stock worth $9,898,000 after purchasing an additional 35,366 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Matador Resources by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,284 shares of the energy company's stock worth $1,497,000 after purchasing an additional 1,551 shares during the period. Institutional investors own 91.98% of the company's stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price target on Matador Resources from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings upgraded Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, April 27th. KeyCorp upped their price target on Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Zacks Research upgraded Matador Resources from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company increased their target price on Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.62.

Matador Resources Trading Down 0.0%

Shares of MTDR opened at $62.34 on Monday. 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 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $58.26 and a 200-day simple moving average of $48.23. The stock has a market cap of $7.75 billion, a PE ratio of 10.22, a PEG ratio of 1.93 and a beta of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business had revenue of $809.55 million during the quarter, compared to analysts' expectations of $811.13 million. During the same period in the prior year, the firm posted $1.83 EPS. Matador Resources's quarterly revenue was down 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Matador Resources Company will post 7.33 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.4%. Matador Resources's dividend payout ratio is 24.59%.

About Matador Resources

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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