CIBC Asset Management Inc Grows Position in Matador Resources (NYSE:MTDR)

CIBC Asset Management Inc raised its holdings in shares of Matador Resources (NYSE:MTDR) by 12.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,401 shares of the energy company’s stock after acquiring an additional 373 shares during the quarter. CIBC Asset Management Inc’s holdings in Matador Resources were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Matador Resources during the first quarter valued at about $34,000. Lindbrook Capital LLC increased its position in shares of Matador Resources by 84.3% during the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after buying an additional 273 shares during the period. Advisors Asset Management Inc. increased its position in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after buying an additional 466 shares during the period. Finally, Creekmur Asset Management LLC bought a new stake in shares of Matador Resources during the fourth quarter valued at about $54,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

NYSE MTDR opened at $49.87 on Tuesday. The company has a 50-day simple moving average of $58.08 and a two-hundred day simple moving average of $61.48. Matador Resources has a 12-month low of $49.70 and a 12-month high of $71.08. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 6.83 and a beta of 3.27. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. On average, equities analysts forecast that Matador Resources will post 7.83 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio is 10.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Stephens cut their price objective on Matador Resources from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Truist Financial lowered their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Wolfe Research initiated coverage on shares of Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.17.

Insider Buying and Selling

In other news, CAO Robert T. Macalik purchased 500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bryan A. Erman acquired 1,750 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The disclosure for this purchase can be found here. Insiders have bought a total of 5,750 shares of company stock valued at $312,470 over the last three months. 6.10% of the stock is owned by company insiders.

Matador Resources Company 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.