Hsbc Holdings PLC cut its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 38.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,913 shares of the energy company's stock after selling 19,520 shares during the period. Hsbc Holdings PLC's holdings in Matador Resources were worth $1,746,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Stifel Financial Corp raised its holdings in Matador Resources by 156.0% in the fourth quarter. Stifel Financial Corp now owns 77,570 shares of the energy company's stock valued at $4,364,000 after acquiring an additional 47,266 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in shares of Matador Resources by 14.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 60,885 shares of the energy company's stock valued at $3,425,000 after purchasing an additional 7,585 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Matador Resources by 242.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,975 shares of the energy company's stock worth $505,000 after purchasing an additional 6,357 shares during the last quarter. Mesirow Institutional Investment Management Inc. grew its stake in Matador Resources by 37.0% in the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 245,750 shares of the energy company's stock worth $13,826,000 after purchasing an additional 66,376 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Matador Resources by 8.9% in the fourth quarter. MetLife Investment Management LLC now owns 65,832 shares of the energy company's stock valued at $3,704,000 after buying an additional 5,405 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Matador Resources news, EVP William Thomas Elsener purchased 750 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the transaction, the executive vice president now owns 111,197 shares in the company, valued at $4,458,999.70. This represents a 0.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Van H. Singleton II purchased 1,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $40.72 per share, for a total transaction of $40,720.00. Following the acquisition, the insider now directly owns 291,135 shares of the company's stock, valued at $11,855,017.20. This represents a 0.34 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 30,900 shares of company stock worth $1,490,879 over the last ninety days. Company insiders own 6.10% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Raymond James reduced their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Benchmark reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. KeyCorp dropped their target price on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley dropped their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.33.
Read Our Latest Stock Analysis on Matador Resources
Matador Resources Stock Performance
Matador Resources stock traded down $1.43 during mid-day trading on Monday, hitting $39.66. 2,415,178 shares of the company's stock traded hands, compared to its average volume of 1,594,229. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a one year low of $35.19 and a one year high of $66.89. The firm has a 50 day moving average price of $45.20 and a 200 day moving average price of $52.94. The company has a market cap of $4.97 billion, a PE ratio of 5.55 and a beta of 2.74.
Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company's revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 earnings per share. On average, equities analysts forecast that Matador Resources will post 8.53 EPS for the current year.
Matador Resources announced that its Board of Directors has initiated a share repurchase program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Matador Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 3.15%. Matador Resources's payout ratio is 16.78%.
About Matador Resources
(
Free Report)
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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