Synovus Financial Corp Raises Position in Matador Resources Company $MTDR

Key Points

• Synovus Financial Corp increased its stake in Matador Resources by 25.4%, holding 28,979 shares valued at approximately $1.48 million as of its most recent SEC filing.
• Several institutional investors, including MCF Advisors and Opal Wealth Advisors, have recently acquired new positions in Matador Resources, contributing to 91.98% institutional ownership of the company.
• Matador Resources reported $1.53 EPS for the last quarter, exceeding expectations and reflecting an 8.2% revenue increase compared to the same quarter last year.

Synovus Financial Corp lifted its stake in Matador Resources Company (NYSE:MTDR - Free Report) by 25.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,979 shares of the energy company's stock after buying an additional 5,876 shares during the period. Synovus Financial Corp's holdings in Matador Resources were worth $1,481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MTDR. MCF Advisors LLC acquired a new position in shares of Matador Resources in the first quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Matador Resources in the first quarter worth about $28,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Matador Resources in the first quarter worth about $50,000. Rakuten Securities Inc. lifted its stake in shares of Matador Resources by 9,090.9% in the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock worth $52,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Matador Resources in the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America assumed coverage on Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley upped their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, William Blair started coverage on Matador Resources in a research note on Monday. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and a consensus target price of $67.60.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $46.25 per share, with a total value of $92,500.00. Following the purchase, the chief executive officer directly owned 8,606 shares in the company, valued at $398,027.50. The trade was a 30.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Matador Resources Stock Performance

MTDR opened at $48.69 on Wednesday. The firm 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. The business has a fifty day simple moving average of $49.33 and a 200-day simple moving average of $47.52. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The company's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. As a group, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.6%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Matador Resources 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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