Royal Bank of Canada Reduces Position in Matador Resources Company $MTDR

Royal Bank of Canada decreased its stake in shares of Matador Resources Company (NYSE:MTDR) by 9.7% during the first quarter, HoldingsChannel reports. The firm owned 410,339 shares of the energy company’s stock after selling 43,972 shares during the quarter. Royal Bank of Canada’s holdings in Matador Resources were worth $25,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Matador Resources by 1,104.8% during the first quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock valued at $103,000 after buying an additional 1,845 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after acquiring an additional 690 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Matador Resources during the 2nd quarter worth about $255,000. Arrowstreet Capital Limited Partnership acquired a new stake in Matador Resources during the 2nd quarter worth about $5,126,000. Finally, EverSource Wealth Advisors LLC grew its stake in Matador Resources by 767.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock valued at $156,000 after purchasing an additional 2,885 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

MTDR opened at $48.78 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a fifty day moving average price of $51.75 and a 200 day moving average price of $53.59. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84. The stock has a market cap of $6.06 billion, a P/E ratio of 12.54 and a beta of 0.76.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same quarter last year, the business earned $1.99 earnings per share. The firm’s revenue was down 33.8% on a year-over-year basis. Equities research analysts anticipate that Matador Resources Company will post 6.96 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.1%. Matador Resources’s dividend payout ratio is 38.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTDR. Mizuho raised Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, June 22nd. Stephens increased their price target on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Citigroup decreased their price objective on shares of Matador Resources from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average price target of $66.00.

Insider Transactions at Matador Resources

In other Matador Resources news, CFO Christopher P. Calvert bought 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Glenn W. Stetson purchased 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $53.41 per share, with a total value of $26,705.00. Following the purchase, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 11,907 shares of company stock valued at $635,712 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.