Segall Bryant & Hamill LLC Sells 142,969 Shares of Matador Resources Company $MTDR

Key Points

• Segall Bryant & Hamill reduced its Matador Resources stake by 19.1%, selling 142,969 shares and retaining 603,703 shares worth approximately $38.1 million. Institutional investors and hedge funds collectively own 91.98% of the company.
• Matador reported quarterly earnings of $1.53 per share, beating estimates of $1.24, while revenue reached $941.6 million; however, revenue declined 33.8% year over year. The company declared a quarterly dividend of $0.375 per share, representing a 3.0% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $66, compared with the stock’s recent price of $49.83. Several firms recently lowered their price targets, while company insiders bought shares worth about $635,700 over the past 90 days.

Segall Bryant & Hamill LLC cut its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 19.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 603,703 shares of the energy company's stock after selling 142,969 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.49% of Matador Resources worth $38,142,000 as of its most recent SEC filing.

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

Matador Resources Trading Up 3.1%

NYSE MTDR opened at $49.83 on Friday. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $52.00 and a 200-day moving average of $53.43. The company has a market cap of $6.19 billion, a PE ratio of 12.81 and a beta of 0.74.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. During the same period in the previous year, the company earned $1.99 earnings per share. The firm's revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts anticipate that Matador Resources Company will post 6.81 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, August 10th. This represents a $1.50 annualized dividend and a dividend yield of 3.0%. Matador Resources's payout ratio is currently 38.56%.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of research reports. Citigroup decreased their price objective on Matador Resources from $72.00 to $68.00 and set a "buy" rating for the company in a report on Monday, July 20th. UBS Group cut their target price on Matador Resources from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Zacks Research downgraded Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Morgan Stanley reduced their price target on Matador Resources from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Monday, June 29th. Finally, Weiss Ratings cut shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average target price of $66.00.

Insider Transactions at Matador Resources

In other news, COO Glenn W. Stetson bought 500 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran bought 4,675 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $52.36 per share, with a total value of $244,783.00. Following the completion of the purchase, the chief executive officer directly owned 6,997 shares in the company, valued at $366,362.92. The trade was a 201.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 11,907 shares of company stock worth $635,712 in the last ninety days. Insiders own 5.90% of the company's stock.

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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