M&T Bank Corp Increases Holdings in Matador Resources (NYSE:MTDR)

M&T Bank Corp raised its stake in Matador Resources (NYSE:MTDR) by 46.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,426 shares of the energy company’s stock after buying an additional 3,299 shares during the quarter. M&T Bank Corp’s holdings in Matador Resources were worth $515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. grew its holdings in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares during the period. ClearAlpha Technologies LP grew its stake in shares of Matador Resources by 4.3% in the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after buying an additional 218 shares during the period. Fifth Third Bancorp increased its holdings in shares of Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares during the last quarter. Quarry LP raised its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares during the period. Finally, Greenleaf Trust lifted its holdings in Matador Resources by 3.8% in the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after acquiring an additional 260 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Price Performance

Matador Resources stock opened at $55.69 on Wednesday. The stock has a market cap of $6.95 billion, a P/E ratio of 7.38 and a beta of 3.26. The company has a fifty day simple moving average of $55.53 and a 200-day simple moving average of $56.27. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the prior year, the firm posted $1.86 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts expect that Matador Resources will post 7.49 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, November 15th. Matador Resources’s dividend payout ratio is currently 13.25%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho reduced their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. BMO Capital Markets upped their price target on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their target price on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

Insiders Place Their Bets

In other news, EVP William Thomas Elsener bought 800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $56.60 per share, with a total value of $45,280.00. Following the transaction, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the purchase, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 4,285 shares of company stock valued at $232,849. 6.10% of the stock is owned by corporate insiders.

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.