Bank of Montreal Can Reduces Stake in Matador Resources Company $MTDR

Bank of Montreal Can cut its stake in Matador Resources Company (NYSE:MTDR) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,028 shares of the energy company’s stock after selling 1,696 shares during the quarter. Bank of Montreal Can’s holdings in Matador Resources were worth $1,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MTDR. Envestnet Asset Management Inc. boosted its holdings in Matador Resources by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 304,903 shares of the energy company’s stock valued at $15,577,000 after purchasing an additional 4,602 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Matador Resources during the 1st quarter valued at approximately $2,272,000. Verdence Capital Advisors LLC lifted its holdings in Matador Resources by 39.7% in the first quarter. Verdence Capital Advisors LLC now owns 8,837 shares of the energy company’s stock valued at $451,000 after acquiring an additional 2,511 shares during the last quarter. Private Advisor Group LLC grew its position in Matador Resources by 1.9% in the first quarter. Private Advisor Group LLC now owns 49,457 shares of the energy company’s stock worth $2,527,000 after acquiring an additional 932 shares during the period. Finally, South Dakota Investment Council grew its position in Matador Resources by 11.8% in the first quarter. South Dakota Investment Council now owns 292,809 shares of the energy company’s stock worth $14,960,000 after acquiring an additional 30,887 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Performance

NYSE MTDR opened at $41.40 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. The company has a market cap of $5.15 billion, a P/E ratio of 6.61 and a beta of 1.35. The stock has a 50-day moving average of $43.44 and a two-hundred day moving average of $46.11. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $915.12 million during the quarter, compared to the consensus estimate of $893.22 million. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. Matador Resources’s payout ratio is presently 23.96%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 1,000 shares of Matador Resources stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $38.14 per share, with a total value of $38,140.00. Following the transaction, the chief executive officer directly owned 23,867 shares of the company’s stock, valued at approximately $910,287.38. This trade represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christopher P. Calvert acquired 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $39.44 per share, with a total value of $98,600.00. Following the purchase, the chief operating officer directly owned 40,000 shares in the company, valued at approximately $1,577,600. This trade represents a 6.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 43,726 shares of company stock worth $1,766,734 over the last quarter. 5.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTDR. Wells Fargo & Company decreased their price target on Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research report on Tuesday, October 14th. UBS Group decreased their target price on shares of Matador Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. KeyCorp dropped their price target on shares of Matador Resources from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Finally, Mizuho reduced their price target on shares of Matador Resources from $69.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.57.

Matador Resources 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.