Wesbanco Bank Inc. Has $1.72 Million Stake 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. grew its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 75.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,994 shares of the energy company's stock after purchasing an additional 15,500 shares during the quarter. Wesbanco Bank Inc.'s holdings in Matador Resources were worth $1,718,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. MCF Advisors LLC bought a new position in Matador Resources during the first quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Matador Resources during the first quarter valued at approximately $28,000. Quarry LP grew its stake in shares of Matador Resources by 70.8% in the first quarter. Quarry LP now owns 859 shares of the energy company's stock worth $44,000 after acquiring an additional 356 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock worth $45,000 after purchasing an additional 690 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Matador Resources during the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MTDR. Mizuho reduced their target price on Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a research report on Monday. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. KeyCorp cut their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Raymond James Financial lifted their price target on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.27.

Insider Buying and Selling

In other Matador Resources news, EVP William Thomas Elsener bought 600 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were acquired at an average price of $48.46 per share, with a total value of $29,076.00. Following the transaction, the executive vice president owned 112,069 shares of the company's stock, valued at approximately $5,430,863.74. The trade was a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 5,000 shares of Matador Resources stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $49.17 per share, with a total value of $245,850.00. Following the completion of the acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 11,380 shares of company stock valued at $549,188. Corporate insiders own 5.80% of the company's stock.

Matador Resources Stock Down 3.7%

Shares of Matador Resources stock traded down $1.75 during trading hours on Friday, reaching $45.58. The company's stock had a trading volume of 583,561 shares, compared to its average volume of 1,668,336. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The stock's fifty day simple moving average is $48.92 and its two-hundred day simple moving average is $46.83. 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 company has a market capitalization of $5.67 billion, a P/E ratio of 6.67 and a beta of 1.49.

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

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Matador Resources's dividend payout ratio is presently 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.