Hancock Whitney Corp Decreases Stake in Matador Resources (NYSE:MTDR)

Hancock Whitney Corp cut its stake in Matador Resources (NYSE:MTDR) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,812 shares of the energy company’s stock after selling 1,691 shares during the period. Hancock Whitney Corp’s holdings in Matador Resources were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Ensign Peak Advisors Inc boosted its holdings in Matador Resources by 25.4% in the second quarter. Ensign Peak Advisors Inc now owns 63,503 shares of the energy company’s stock valued at $3,785,000 after purchasing an additional 12,850 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Matador Resources by 40.7% in the 2nd quarter. Sei Investments Co. now owns 98,581 shares of the energy company’s stock valued at $5,875,000 after buying an additional 28,517 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Matador Resources in the second quarter worth about $6,061,000. Goehring & Rozencwajg Associates LLC grew its holdings in Matador Resources by 11.2% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 272,072 shares of the energy company’s stock worth $16,215,000 after acquiring an additional 27,300 shares during the period. Finally, MQS Management LLC purchased a new position in Matador Resources during the second quarter valued at approximately $465,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a report on Friday. Wells Fargo & Company increased their target price on shares of Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. 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 upped their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.17.

Insider Buying and Selling

In other news, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, with a total value of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the transaction, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at $1,943,043.97. The disclosure for this purchase can be found here. Insiders have bought a total of 12,300 shares of company stock worth $634,615 in the last quarter. Company insiders own 6.10% of the company’s stock.

Matador Resources Price Performance

Matador Resources stock opened at $52.20 on Monday. The stock has a 50 day moving average of $56.40 and a two-hundred day moving average of $60.73. Matador Resources has a twelve month low of $48.22 and a twelve month high of $71.08. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same period in the previous year, the business posted $1.42 earnings per share. The business’s revenue was up 32.8% compared to the same quarter last year. As a group, research analysts expect that Matador Resources will post 7.83 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

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.