JPMorgan Chase & Co. Cuts Holdings in Matador Resources (NYSE:MTDR)

JPMorgan Chase & Co. cut its holdings in Matador Resources (NYSE:MTDR) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,878,150 shares of the energy company’s stock after selling 79,113 shares during the quarter. JPMorgan Chase & Co. owned 1.51% of Matador Resources worth $92,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Denver PWM LLC purchased a new stake in shares of Matador Resources during the 2nd quarter worth $27,000. True Wealth Design LLC acquired a new stake in shares of Matador Resources in the third quarter valued at about $37,000. Avior Wealth Management LLC boosted its holdings in Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares in the last quarter. Quarry LP grew its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Finally, Covestor Ltd increased its holdings in Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Performance

Matador Resources stock opened at $58.08 on Friday. The stock has a fifty day moving average price of $56.16 and a 200 day moving average price of $55.94. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The firm has a market capitalization of $7.25 billion, a P/E ratio of 7.69 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the firm posted $1.86 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. Matador Resources’s dividend payout ratio is presently 13.25%.

Insider Buying and Selling

In other Matador Resources news, EVP William Thomas Elsener bought 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares in the company, valued at $4,411,043.55. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,285 shares of company stock valued at $232,849. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Cowen upped their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. KeyCorp lowered their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Mizuho dropped their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Truist Financial cut their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $74.38.

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.