UMB Bank n.a. Reduces Stake in Matador Resources (NYSE:MTDR)

UMB Bank n.a. reduced its stake in Matador Resources (NYSE:MTDR) by 40.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 564 shares of the energy company’s stock after selling 381 shares during the period. UMB Bank n.a.’s holdings in Matador Resources were worth $29,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in Matador Resources during the 4th quarter valued at about $25,000. TCTC Holdings LLC lifted its stake in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock valued at $33,000 after purchasing an additional 453 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Matador Resources by 90.2% in the fourth quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company’s stock valued at $48,000 after purchasing an additional 407 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $39.63 per share, with a total value of $99,075.00. Following the completion of the acquisition, the chief executive officer now directly owns 60,756 shares in the company, valued at $2,407,760.28. The trade was a 4.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $41.53 per share, with a total value of $41,530.00. Following the completion of the acquisition, the executive vice president now owns 93,180 shares of the company’s stock, valued at approximately $3,869,765.40. The trade was a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 14,850 shares of company stock worth $601,103. 5.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MTDR. KeyCorp dropped their price target on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Bank of America assumed coverage on shares of Matador Resources in a research note on Monday, May 19th. They set a “buy” rating and a $56.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Matador Resources from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.44.

Matador Resources Stock Up 4.4%

Matador Resources stock opened at $51.67 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89. The company has a market cap of $6.47 billion, a PE ratio of 7.24 and a beta of 1.46. The stock’s 50 day moving average price is $42.93 and its 200 day moving average price is $50.67.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Matador Resources’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 earnings per share. On average, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources declared that its board has authorized a share buyback program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.42%. Matador Resources’s payout ratio is 16.78%.

About Matador Resources

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.