Bank of New York Mellon Corp Grows Stake in Matador Resources (NYSE:MTDR)

Bank of New York Mellon Corp increased its stake in shares of Matador Resources (NYSE:MTDR) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,217,645 shares of the energy company’s stock after purchasing an additional 39,373 shares during the period. Bank of New York Mellon Corp’s holdings in Matador Resources were worth $68,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. South Dakota Investment Council lifted its position in shares of Matador Resources by 10.2% in the fourth quarter. South Dakota Investment Council now owns 261,922 shares of the energy company’s stock valued at $14,736,000 after acquiring an additional 24,224 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Matador Resources by 90.2% in the 4th 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. Ieq Capital LLC lifted its holdings in Matador Resources by 919.9% in the 4th quarter. Ieq Capital LLC now owns 52,649 shares of the energy company’s stock valued at $2,962,000 after purchasing an additional 47,487 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Matador Resources by 134.4% during the 4th quarter. Venturi Wealth Management LLC now owns 3,750 shares of the energy company’s stock worth $211,000 after purchasing an additional 2,150 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Matador Resources during the fourth quarter worth $209,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTDR has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Wednesday, January 15th. Truist Financial raised their target price on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company upped their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Stephens boosted their price objective on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.14.

Matador Resources Stock Performance

NYSE MTDR opened at $47.70 on Tuesday. The stock has a fifty day simple moving average of $58.01 and a 200-day simple moving average of $55.71. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5.97 billion, a PE ratio of 6.68 and a beta of 3.22. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Equities analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Insider Activity at Matador Resources

In other news, Director Susan M. Ward bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average cost of $52.81 per share, for a total transaction of $105,620.00. Following the acquisition, the director now directly owns 5,844 shares of the company’s stock, valued at $308,621.64. The trade was a 52.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph Wm Foran purchased 6,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 17,330 shares of company stock worth $936,166. Insiders own 6.10% of the company’s stock.

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.