Wesbanco Bank Inc. lifted its stake in Matador Resources (NYSE:MTDR – Get Rating) by 108.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,286 shares of the energy company's stock after purchasing an additional 8,466 shares during the period. Wesbanco Bank Inc.'s holdings in Matador Resources were worth $759,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Ocean LLC purchased a new stake in Matador Resources during the 1st quarter worth about $27,000. Exchange Traded Concepts LLC purchased a new stake in Matador Resources during the 1st quarter worth about $31,000. Van ECK Associates Corp purchased a new stake in Matador Resources during the 1st quarter worth about $67,000. Archer Investment Corp purchased a new stake in Matador Resources during the 1st quarter worth about $74,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Matador Resources during the 1st quarter worth about $98,000. 88.32% of the stock is currently owned by hedge funds and other institutional investors.
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Matador Resources Stock Performance
Shares of MTDR stock opened at $45.41 on Tuesday. The stock has a market capitalization of $5.36 billion, a PE ratio of 5.21 and a beta of 3.64. Matador Resources has a 52-week low of $33.49 and a 52-week high of $67.78. The stock's 50-day moving average price is $56.49 and its 200 day moving average price is $54.27. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.48.
Matador Resources (NYSE:MTDR – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The energy company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.31. The firm had revenue of $943.93 million for the quarter, compared to analysts' expectations of $829.21 million. Matador Resources had a return on equity of 43.58% and a net
margin of 40.86%. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, equities research analysts forecast that Matador Resources will post 11.16 EPS for the current year.
Matador Resources Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, August 16th. This is a boost from Matador Resources's previous quarterly dividend of $0.05. Matador Resources's payout ratio is 4.59%.
Analyst Upgrades and Downgrades
MTDR has been the subject of a number of recent analyst reports. Raymond James decreased their price target on Matador Resources from $70.00 to $60.00 in a report on Monday. MKM Partners reiterated a "buy" rating and set a $68.00 target price on shares of Matador Resources in a research report on Wednesday, September 21st. Finally, KeyCorp initiated coverage on Matador Resources in a research report on Monday, September 19th. They set an "overweight" rating and a $72.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and an average target price of $62.22.
Matador Resources Profile
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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.
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