Matador Resources Company $MTDR Stock Position Cut by Corigliano Investment Advisers LLC

Corigliano Investment Advisers LLC lessened its stake in Matador Resources Company (NYSE:MTDR) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,400 shares of the energy company’s stock after selling 18,300 shares during the period. Matador Resources accounts for approximately 3.8% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 9th largest holding. Corigliano Investment Advisers LLC’s holdings in Matador Resources were worth $10,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTDR. Jones Financial Companies Lllp grew its stake in Matador Resources by 1,104.8% in the first quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock valued at $103,000 after purchasing an additional 1,845 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after purchasing an additional 690 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Matador Resources in the second quarter valued at about $255,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Matador Resources during the second quarter worth about $5,126,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Matador Resources by 767.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after acquiring 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 Trading Down 1.6%

Matador Resources stock opened at $50.38 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.95 and a beta of 0.74. The stock has a 50-day moving average price of $57.35 and a 200 day moving average price of $51.68.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company’s revenue was down 33.8% compared to the same quarter last year. Sell-side analysts anticipate that Matador Resources Company will post 7.44 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.0%. Matador Resources’s payout ratio is 38.56%.

Insider Buying and Selling

In other news, COO Glenn W. Stetson bought 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $53.07 per share, with a total value of $106,140.00. Following the acquisition, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 11,907 shares of company stock valued at $635,712 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their price target on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. BMO Capital Markets boosted their price target on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. TD Cowen boosted their price target on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Truist Financial upgraded Matador Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their price target on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.08.

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.