Truist Financial Corp Has $574,000 Holdings in Matador Resources Company $MTDR

Truist Financial Corp decreased its holdings in shares of Matador Resources Company (NYSE:MTDR) by 68.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,514 shares of the energy company’s stock after selling 29,482 shares during the quarter. Truist Financial Corp’s holdings in Matador Resources were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in Matador Resources by 1,104.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock worth $103,000 after purchasing an additional 1,845 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Matador Resources in the 2nd quarter worth $255,000. Arrowstreet Capital Limited Partnership acquired a new stake in Matador Resources in the 2nd quarter worth $5,126,000. Finally, EverSource Wealth Advisors LLC grew its position in Matador Resources by 767.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after purchasing an additional 2,885 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTDR. TD Cowen raised their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Wells Fargo & Company raised their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Zacks Research upgraded shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Finally, Truist Financial upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and raised their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.46.

Matador Resources Price Performance

NYSE:MTDR opened at $60.83 on Tuesday. The company has a 50-day moving average of $59.46 and a 200-day moving average of $49.40. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 15.64 and a beta of 0.81. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period last year, the firm earned $1.99 EPS. As a group, equities research analysts anticipate that Matador Resources Company will post 7.42 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, May 8th. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.

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.