Northern Trust Corp Reduces Stock Position in Matador Resources Company $MTDR

Key Points

• Northern Trust Corp reduced its stake in Matador Resources by 0.4%, maintaining ownership of 1,160,856 shares valued at $59.3 million after selling 5,221 shares.
• Matador Resources reported $1.53 EPS for the last quarter, beating analysts' expectations of $1.29, with revenues of $895.31 million.
• The company announced a quarterly dividend of $0.3125 per share, representing an annual yield of 2.6%, with the ex-dividend date on August 15th.

Northern Trust Corp lowered its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,856 shares of the energy company's stock after selling 5,221 shares during the period. Northern Trust Corp owned 0.93% of Matador Resources worth $59,308,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MTDR. Vanguard Group Inc. lifted its position in shares of Matador Resources by 7.6% during the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after acquiring an additional 956,090 shares in the last quarter. LSV Asset Management lifted its position in shares of Matador Resources by 50.9% during the first quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after acquiring an additional 772,071 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Matador Resources during the first quarter worth $35,715,000. Balyasny Asset Management L.P. increased its holdings in shares of Matador Resources by 101.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock worth $41,330,000 after purchasing an additional 370,388 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Matador Resources in the fourth quarter worth $19,298,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Stock Down 1.4%

MTDR opened at $48.69 on Wednesday. The stock has a market cap of $6.06 billion, a PE ratio of 7.13 and a beta of 1.49. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04. The business's fifty day simple moving average is $49.33 and its 200 day simple moving average is $47.52.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The firm's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, research analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio is currently 18.30%.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $49.17 per share, with a total value of $245,850.00. Following the completion of the purchase, the chief executive officer directly owned 6,606 shares in the company, valued at $324,817.02. The trade was a 311.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTDR shares. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. UBS Group decreased their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Raymond James Financial upped their price target on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Bank of America started coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.60.

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.

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