Wesbanco Bank Inc. Increases Position in Matador Resources Company $MTDR

Key Points

• Wesbanco Bank Inc. increased its position in Matador Resources by 75.6% during the second quarter, bringing its total holdings to 35,994 shares, valued at approximately $1.7 million.
• Matador Resources reported $1.53 earnings per share, exceeding analysts' expectations, with a revenue of $895.31 million for the quarter, marking an 8.2% year-over-year increase.
• The company recently announced a quarterly dividend of $0.3125 per share, resulting in an annualized dividend yield of 2.6% and a payout ratio of 18.30%.

Wesbanco Bank Inc. raised its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 75.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,994 shares of the energy company's stock after buying an additional 15,500 shares during the period. Wesbanco Bank Inc.'s holdings in Matador Resources were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Matador Resources by 24.0% during the 4th quarter. Cetera Investment Advisers now owns 8,070 shares of the energy company's stock worth $454,000 after acquiring an additional 1,562 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Matador Resources during the fourth quarter worth about $866,000. Quantinno Capital Management LP boosted its stake in shares of Matador Resources by 71.3% in the fourth quarter. Quantinno Capital Management LP now owns 13,141 shares of the energy company's stock valued at $739,000 after purchasing an additional 5,471 shares during the period. ProShare Advisors LLC increased its stake in Matador Resources by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 5,430 shares of the energy company's stock worth $305,000 after buying an additional 369 shares during the period. Finally, Snowden Capital Advisors LLC purchased a new stake in Matador Resources during the 4th quarter worth approximately $443,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the purchase, the chief executive officer directly owned 6,606 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is owned by company insiders.

Matador Resources Trading Down 1.8%

NYSE:MTDR opened at $47.72 on Monday. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The stock has a market cap of $5.94 billion, a P/E ratio of 6.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a 50-day simple moving average of $49.23 and a 200-day simple moving average of $46.86.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results 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 firm had revenue of $895.31 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a $0.3125 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.6%. Matador Resources's dividend payout ratio is presently 18.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Wells Fargo & Company lowered their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Bank of America began coverage on Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. Morgan Stanley upped their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Finally, TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.53.

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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