Hsbc Holdings PLC Cuts Stake in Matador Resources Company $MTDR

Hsbc Holdings PLC reduced its position in Matador Resources Company (NYSE:MTDR) by 74.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,418 shares of the energy company’s stock after selling 15,864 shares during the quarter. Hsbc Holdings PLC’s holdings in Matador Resources were worth $344,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Matador Resources in the 4th quarter worth approximately $53,249,000. Balyasny Asset Management L.P. lifted its position in shares of Matador Resources by 2,495.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after purchasing an additional 531,551 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Matador Resources by 12.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock worth $142,853,000 after purchasing an additional 385,000 shares during the period. Finally, UBS Group AG boosted its stake in shares of Matador Resources by 94.6% during the third quarter. UBS Group AG now owns 746,767 shares of the energy company’s stock valued at $33,552,000 after purchasing an additional 362,970 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Matador Resources news, CFO Christopher P. Calvert bought 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $53.24 per share, with a total value of $79,860.00. Following the transaction, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the transaction, the chief executive officer directly owned 11,479 shares in the company, valued at $609,190.53. This represents a 21.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 11,907 shares of company stock worth $635,712. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stephens lifted their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a report on Monday, June 22nd. UBS Group dropped their target price on Matador Resources from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Truist Financial cut their price target on Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, Wells Fargo & Company lifted their price target on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Matador Resources Stock Down 0.1%

Shares of Matador Resources stock opened at $49.83 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.19 billion, a P/E ratio of 12.81 and a beta of 0.76. The firm’s 50 day moving average price is $52.00 and its 200-day moving average price is $53.51. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. Matador Resources’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 earnings per share. On average, sell-side analysts predict that Matador Resources Company will post 6.96 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio is currently 38.56%.

Matador Resources 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.