CIBC Bancorp USA Inc. Purchases Shares of 1,371,346 Matador Resources Company $MTDR

CIBC Bancorp USA Inc. acquired a new stake in Matador Resources Company (NYSE:MTDR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,371,346 shares of the energy company’s stock, valued at approximately $61,615,000. CIBC Bancorp USA Inc. owned 1.10% of Matador Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tweedy Browne Co LLC grew its stake in shares of Matador Resources by 105.3% in the third quarter. Tweedy Browne Co LLC now owns 15,489 shares of the energy company’s stock worth $696,000 after purchasing an additional 7,944 shares during the last quarter. Hancock Whitney Corp raised its position in Matador Resources by 0.5% during the 3rd quarter. Hancock Whitney Corp now owns 60,150 shares of the energy company’s stock valued at $2,703,000 after purchasing an additional 315 shares during the last quarter. Armistice Capital LLC bought a new position in Matador Resources during the 3rd quarter valued at approximately $1,973,000. Verition Fund Management LLC lifted its holdings in Matador Resources by 41.6% in the 3rd quarter. Verition Fund Management LLC now owns 209,539 shares of the energy company’s stock worth $9,415,000 after buying an additional 61,584 shares during the period. Finally, Scientech Research LLC purchased a new stake in Matador Resources in the 3rd quarter worth approximately $724,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Stock Up 2.3%

Shares of NYSE:MTDR opened at $57.64 on Wednesday. The firm has a market capitalization of $7.16 billion, a P/E ratio of 9.45 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. The stock has a 50 day moving average price of $48.17 and a 200-day moving average price of $45.07. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $58.32.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The company had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 earnings per share. As a group, equities research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, February 27th. Matador Resources’s payout ratio is 24.59%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reduced their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. UBS Group lifted their price target on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. TD Cowen boosted their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.31.

About Matador Resources

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.