Hsbc Holdings PLC Boosts Stake in Matador Resources (NYSE:MTDR)

Hsbc Holdings PLC lifted its stake in Matador Resources (NYSE:MTDR) by 686.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,978 shares of the energy company’s stock after purchasing an additional 64,568 shares during the period. Hsbc Holdings PLC’s holdings in Matador Resources were worth $4,432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTDR. Denver PWM LLC purchased a new stake in shares of Matador Resources in the 2nd quarter worth $27,000. Covestor Ltd increased its stake in shares of Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Matador Resources in the 1st quarter worth $34,000. Lindbrook Capital LLC increased its stake in shares of Matador Resources by 84.3% in the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after purchasing an additional 273 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTDR. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, July 24th. Truist Financial cut their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. TD Cowen increased their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research began coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.17.

Matador Resources Trading Down 1.1 %

Shares of Matador Resources stock opened at $51.94 on Wednesday. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 7.12 and a beta of 3.27. The business has a 50-day moving average price of $55.90 and a 200-day moving average price of $60.55. 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 has a twelve month low of $48.22 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. During the same quarter last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources will post 7.83 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s payout ratio is 10.96%.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $50.58 per share, with a total value of $25,290.00. Following the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 12,300 shares of company stock valued at $634,615. Insiders own 6.10% of the company’s stock.

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.