Matador Resources Company (NYSE:MTDR) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC trimmed its holdings in shares of Matador Resources Company (NYSE:MTDR) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,253,988 shares of the energy company’s stock after selling 29,755 shares during the quarter. Matador Resources accounts for approximately 1.3% of Copeland Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Copeland Capital Management LLC owned about 1.00% of Matador Resources worth $64,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTDR. Altshuler Shaham Ltd acquired a new position in Matador Resources in the 4th quarter valued at about $25,000. TCTC Holdings LLC grew its position in Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Matador Resources in the 1st quarter valued at about $28,000. Finally, SRS Capital Advisors Inc. grew its position in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock valued at $33,000 after acquiring an additional 453 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Matador Resources

In other news, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction on Monday, April 28th. The stock was bought at an average price of $41.53 per share, for a total transaction of $41,530.00. Following the completion of the purchase, the executive vice president now owns 93,180 shares in the company, valued at $3,869,765.40. This represents a 1.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $39.63 per share, with a total value of $99,075.00. Following the purchase, the chief executive officer now owns 60,756 shares of the company’s stock, valued at $2,407,760.28. The trade was a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 14,850 shares of company stock valued at $601,103 over the last three months. 5.80% of the stock is owned by corporate insiders.

Matador Resources Stock Performance

Shares of MTDR opened at $48.24 on Friday. The stock has a 50 day moving average price of $44.88 and a 200 day moving average price of $50.22. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 6.48 and a beta of 1.46. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $66.89.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 earnings per share. Research analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources’s dividend payout ratio (DPR) is 16.78%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MTDR shares. Morgan Stanley dropped their target price on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Royal Bank Of Canada dropped their target price on Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Stephens dropped their target price on Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Raymond James Financial lowered their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, UBS Group assumed coverage on Matador Resources in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $47.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.06.

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.