UMB Bank n.a. Reduces Holdings in Matador Resources (NYSE:MTDR)

UMB Bank n.a. trimmed its position in shares of Matador Resources (NYSE:MTDR) by 40.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 564 shares of the energy company’s stock after selling 381 shares during the quarter. UMB Bank n.a.’s holdings in Matador Resources were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MTDR. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources during the fourth quarter worth $25,000. TCTC Holdings LLC lifted its position in shares of Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after purchasing an additional 256 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Matador Resources by 359.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Matador Resources by 90.2% during the fourth quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company’s stock worth $48,000 after purchasing an additional 407 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $40.86 per share, with a total value of $204,300.00. Following the purchase, the chief executive officer now directly owns 50,756 shares in the company, valued at $2,073,890.16. This represents a 10.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Thomas Elsener bought 750 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $40.10 per share, with a total value of $30,075.00. Following the completion of the purchase, the executive vice president now owns 111,197 shares in the company, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 14,850 shares of company stock worth $601,103. Corporate insiders own 5.80% of the company’s stock.

Matador Resources Price Performance

Shares of MTDR stock opened at $51.67 on Monday. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 7.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock’s 50-day simple moving average is $42.93 and its 200-day simple moving average is $50.67.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. During the same quarter in the previous year, the firm earned $1.71 earnings per share. The company’s revenue was up 28.7% on a year-over-year basis. As a group, equities analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources declared that its board has approved a stock 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 purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a $0.3125 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.42%. Matador Resources’s dividend payout ratio is presently 16.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America initiated coverage on Matador Resources in a research report on Monday, May 19th. They set a “buy” rating and a $56.00 target price for the company. UBS Group initiated coverage on Matador Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 price objective for the company. Stephens decreased their price objective on Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Raymond James decreased their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Finally, KeyCorp decreased their price objective on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.44.

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.