Commonwealth Equity Services LLC Cuts Stock Position in Matador Resources (NYSE:MTDR)

Commonwealth Equity Services LLC lowered its stake in Matador Resources (NYSE:MTDR) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,945 shares of the energy company’s stock after selling 1,132 shares during the period. Commonwealth Equity Services LLC’s holdings in Matador Resources were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTDR. Covestor Ltd lifted its holdings in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares during the period. 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. Advisors Asset Management Inc. raised its holdings in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after acquiring an additional 466 shares during the period. Finally, Creekmur Asset Management LLC bought a new stake in Matador Resources during the fourth quarter valued at about $54,000. 91.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stephens reduced their price objective on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reduced their price objective on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. TD Cowen boosted their price objective 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, Wells Fargo & Company boosted their price objective on Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.17.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $52.20 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. The stock has a 50 day moving average price of $56.60 and a 200 day moving average price of $60.83. Matador Resources has a 52-week low of $48.22 and a 52-week high of $71.08.

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

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a 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%.

Insider Buying and Selling

In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the transaction, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The shares were acquired 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 of the company’s stock, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders acquired 12,300 shares of company stock valued at $634,615 over the last 90 days. Corporate 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.