Huntington National Bank Decreases Stock Position in Matador Resources (NYSE:MTDR)

Huntington National Bank decreased its stake in shares of Matador Resources (NYSE:MTDR) by 49.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,099 shares of the energy company’s stock after selling 1,086 shares during the quarter. Huntington National Bank’s holdings in Matador Resources were worth $54,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MTDR. Price T Rowe Associates Inc. MD lifted its stake in Matador Resources by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after acquiring an additional 53,322 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Matador Resources by 304.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock worth $863,000 after purchasing an additional 10,000 shares during the last quarter. Amalgamated Bank lifted its position in shares of Matador Resources by 25.5% during the 2nd quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock worth $4,352,000 after purchasing an additional 14,850 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Matador Resources by 2.9% during the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock worth $33,476,000 after purchasing an additional 15,835 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $58.84 on Tuesday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a 50-day moving average price of $52.68 and a 200 day moving average price of $56.88. The company has a market cap of $7.34 billion, a P/E ratio of 7.79 and a beta of 3.26. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating 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 last year, the firm earned $1.86 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Matador Resources will post 7.5 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. Matador Resources’s dividend payout ratio is 10.60%.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. TD Cowen upped their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial cut their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.92.

Insider Activity

In other news, EVP Bryan A. Erman purchased 1,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 57.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the acquisition, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. The trade was a 1.71 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock worth $562,306 in the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

About Matador Resources

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.