Copeland Capital Management LLC Sells 29,755 Shares of Matador Resources Company (NYSE:MTDR)

Copeland Capital Management LLC reduced its position in Matador Resources Company (NYSE:MTDR - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,253,988 shares of the energy company's stock after selling 29,755 shares during the period. Matador Resources accounts for approximately 1.3% of Copeland Capital Management LLC's portfolio, making the stock its 23rd largest holding. Copeland Capital Management LLC owned approximately 1.00% of Matador Resources worth $64,066,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MTDR. LSV Asset Management raised its position in shares of Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after purchasing an additional 1,098,108 shares during the period. Webs Creek Capital Management LP purchased a new position in Matador Resources in the 4th quarter valued at approximately $37,894,000. Alliancebernstein L.P. raised its holdings in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after acquiring an additional 555,245 shares during the period. Raymond James Financial Inc. bought a new stake in Matador Resources during the 4th quarter valued at $22,509,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Matador Resources by 101.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock worth $41,330,000 after acquiring an additional 370,388 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America assumed coverage on Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 price objective on the stock. Raymond James Financial reduced their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Wells Fargo & Company decreased their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. UBS Group began coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price target on the stock. Finally, Mizuho reduced their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.06.

Matador Resources Price Performance

MTDR traded down $0.36 on Friday, reaching $48.24. The company had a trading volume of 1,846,017 shares, compared to its average volume of 1,619,181. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $66.89. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 6.48 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. The business has a 50 day simple moving average of $44.88 and a 200 day simple moving average of $50.22.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. During the same quarter last year, the company posted $1.71 EPS. The business's quarterly revenue was up 28.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is currently 16.78%.

Matador Resources declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Matador Resources news, COO Christopher P. Calvert purchased 1,500 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $41.13 per share, with a total value of $61,695.00. Following the completion of the purchase, the chief operating officer now owns 36,500 shares of the company's stock, valued at $1,501,245. The trade was a 4.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Glenn W. Stetson acquired 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $41.53 per share, with a total value of $41,530.00. Following the purchase, the executive vice president now directly owns 93,180 shares in the company, valued at $3,869,765.40. This represents a 1.08% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 14,850 shares of company stock valued at $601,103 over the last 90 days. Insiders own 5.80% of the company's stock.

Matador Resources Company 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.