PNC Financial Services Group Inc. Sells 2,076 Shares of Matador Resources (NYSE:MTDR)

PNC Financial Services Group Inc. lowered its position in Matador Resources (NYSE:MTDR) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,382 shares of the energy company’s stock after selling 2,076 shares during the period. PNC Financial Services Group Inc.’s holdings in Matador Resources were worth $640,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MTDR. Geode Capital Management LLC grew its holdings in Matador Resources by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after purchasing an additional 36,921 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Matador Resources by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after purchasing an additional 56,644 shares during the period. Wasatch Advisors LP grew its holdings in Matador Resources by 4.3% during the third quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company’s stock valued at $63,633,000 after purchasing an additional 52,498 shares during the period. Copeland Capital Management LLC grew its holdings in Matador Resources by 145.2% during the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after purchasing an additional 760,122 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Matador Resources by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,217,645 shares of the energy company’s stock valued at $68,505,000 after purchasing an additional 39,373 shares during the period. Institutional investors own 91.98% of the company’s stock.

Insider Activity at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $53.06 per share, for a total transaction of $53,060.00. Following the purchase, the executive vice president now directly owns 91,680 shares in the company, valued at approximately $4,864,540.80. This trade represents a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul W. Harvey purchased 600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $55.20 per share, with a total value of $33,120.00. Following the purchase, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 21,350 shares of company stock worth $1,100,769 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

NYSE MTDR opened at $50.54 on Wednesday. The stock has a 50-day simple moving average of $55.88 and a two-hundred day simple moving average of $54.89. The firm has a market capitalization of $6.33 billion, a P/E ratio of 7.08 and a beta of 3.17. Matador Resources has a fifty-two week low of $43.89 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The company had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. On average, equities analysts forecast 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 was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.3125 per share. The ex-dividend date was Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley assumed coverage on Matador Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Mizuho lowered their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. TD Cowen boosted their price objective on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Friday, January 3rd. Finally, Truist Financial boosted their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $74.20.

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.