Synovus Financial Corp Boosts Stake in Matador Resources (NYSE:MTDR)

Synovus Financial Corp grew its position in Matador Resources (NYSE:MTDR) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,103 shares of the energy company’s stock after purchasing an additional 350 shares during the period. Synovus Financial Corp’s holdings in Matador Resources were worth $1,300,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MTDR. Vanguard Group Inc. boosted its position in shares of Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after purchasing an additional 187,633 shares during the period. Alliancebernstein L.P. grew its holdings in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after acquiring an additional 555,245 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Matador Resources by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after purchasing an additional 36,921 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Matador Resources by 18.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock valued at $93,952,000 after acquiring an additional 258,958 shares during the last quarter. Finally, LSV Asset Management increased its stake in Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after purchasing an additional 1,098,108 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MTDR shares. Royal Bank of Canada dropped their price objective on Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Friday, January 17th. Stephens cut their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $73.36.

Insider Transactions at Matador Resources

In other Matador Resources news, Director Timothy E. Parker bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $44.67 per share, with a total value of $89,340.00. Following the completion of the purchase, the director now directly owns 83,790 shares in the company, valued at approximately $3,742,899.30. This trade represents a 2.45 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Wm Foran purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average price of $53.94 per share, with a total value of $323,640.00. Following the transaction, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 21,350 shares of company stock worth $1,100,769. Insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

NYSE MTDR opened at $38.96 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. Matador Resources has a 1-year low of $35.19 and a 1-year high of $67.72. The business’s 50-day simple moving average is $49.25 and its 200-day simple moving average is $54.01. The firm has a market capitalization of $4.88 billion, a P/E ratio of 5.46 and a beta of 2.74.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). The business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Equities analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.3125 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 annualized dividend and a yield of 3.21%. Matador Resources’s dividend payout ratio is 17.51%.

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.