Matador Resources (NYSE:MTDR) Shares Sold by Huntington National Bank

Huntington National Bank cut its holdings in shares of Matador Resources (NYSE:MTDR) by 49.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,099 shares of the energy company’s stock after selling 1,086 shares during the period. Huntington National Bank’s holdings in Matador Resources were worth $54,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Matador Resources by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock valued at $73,768,000 after purchasing an additional 53,322 shares during the period. Vanguard Group Inc. grew its stake in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after acquiring an additional 103,713 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Matador Resources by 304.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock worth $863,000 after acquiring an additional 10,000 shares in the last quarter. Amalgamated Bank raised its position in Matador Resources by 25.5% during the second quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock worth $4,352,000 after acquiring an additional 14,850 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Matador Resources by 2.9% during the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock valued at $33,476,000 after purchasing an additional 15,835 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 2.3 %

Shares of MTDR opened at $58.84 on Tuesday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The firm has a market capitalization of $7.34 billion, a P/E ratio of 7.79 and a beta of 3.26. The firm has a 50-day moving average price of $52.68 and a 200 day moving average price of $56.88. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.86 EPS. Sell-side analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.70%. Matador Resources’s dividend payout ratio (DPR) is 10.60%.

Analyst Ratings Changes

A number of research firms have recently commented on MTDR. Wells Fargo & Company cut their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. KeyCorp decreased their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. TD Cowen boosted their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $74.92.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the purchase, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. This represents a 7.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Glenn W. Stetson acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 11,105 shares of company stock worth $562,306 over the last quarter. 6.10% of the stock is currently owned by company insiders.

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.