Matador Resources Company $MTDR Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Matador Resources Company (NYSE:MTDR) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,046 shares of the energy company’s stock after acquiring an additional 26,205 shares during the period. Bank of New York Mellon Corp’s holdings in Matador Resources were worth $74,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MTDR. Kestra Investment Management LLC raised its stake in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources in the 1st quarter worth about $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources during the third quarter valued at approximately $35,000. Center for Financial Planning Inc. acquired a new position in Matador Resources during the 1st quarter worth $41,000. Finally, Gilpin Wealth Management LLC acquired a new stake in Matador Resources in the fourth quarter worth about $42,000. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR opened at $54.06 on Wednesday. The company has a 50-day moving average of $53.46 and a two-hundred day moving average of $53.07. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 13.90 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.99 EPS. On average, equities research analysts expect that Matador Resources Company will post 6.99 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the acquisition, the chief operating officer owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This represents a 0.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher P. Calvert purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the transaction, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at $2,209,460. This trade represents a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 11,907 shares of company stock valued at $635,712 in the last three months. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MTDR has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Wells Fargo & Company increased their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Morgan Stanley lowered their price objective on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, June 22nd. Finally, Citigroup decreased their price target on Matador Resources from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.08.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.