Corigliano Investment Advisers LLC Has $10.71 Million Stake in Matador Resources Company $MTDR

Corigliano Investment Advisers LLC cut its stake in Matador Resources Company (NYSE:MTDR) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,400 shares of the energy company’s stock after selling 18,300 shares during the quarter. Matador Resources comprises approximately 3.8% of Corigliano Investment Advisers LLC’s holdings, making the stock its 9th largest holding. Corigliano Investment Advisers LLC owned approximately 0.20% of Matador Resources worth $10,712,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC boosted its stake in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the period. Rothschild Investment LLC boosted its stake in shares of Matador Resources by 5,927.3% during the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Matador Resources during the 3rd quarter worth about $35,000. Gilpin Wealth Management LLC purchased a new position in shares of Matador Resources during the 4th quarter worth about $42,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Matador Resources by 361.3% during 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 period. Institutional investors own 91.98% of the company’s stock.

Insider Activity

In other news, CFO Christopher P. Calvert purchased 1,500 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the purchase, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 4,675 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the purchase, the chief executive officer owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. This trade represents a 201.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 11,907 shares of company stock worth $635,712. Company insiders own 5.90% of the company’s stock.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $50.38 on Thursday. The firm has a market cap of $6.26 billion, a P/E ratio of 12.95 and a beta of 0.74. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The stock’s fifty day moving average price is $57.35 and its 200-day moving average price is $51.68.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 earnings per share. On average, equities research analysts expect that Matador Resources Company will post 7.44 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 3.0%. Matador Resources’s dividend payout ratio (DPR) is currently 38.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup dropped their price target on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Morgan Stanley lifted their target price on Matador Resources from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Mizuho lifted their target price on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, KeyCorp lifted their target price on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average target price of $65.08.

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.