Merit Financial Group LLC purchased a new position in Matador Resources (NYSE:MTDR – Free Report) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,463 shares of the energy company’s stock, valued at approximately $251,000.
A number of other hedge funds also recently modified their holdings of MTDR. Boston Trust Walden Corp acquired a new position in shares of Matador Resources in the 3rd quarter valued at approximately $51,788,000. Yaupon Capital Management LP boosted its holdings in shares of Matador Resources by 565.4% in the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock valued at $36,770,000 after buying an additional 632,218 shares during the period. FMR LLC increased its position in shares of Matador Resources by 162.9% during the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after acquiring an additional 296,663 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after acquiring an additional 214,334 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new stake in Matador Resources in the 3rd quarter valued at $10,526,000. Institutional investors and hedge funds own 91.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research note on Wednesday, January 15th. Truist Financial raised their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average target price of $75.14.
Insider Activity at Matador Resources
In other Matador Resources news, EVP Glenn W. Stetson acquired 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $55.18 per share, with a total value of $110,360.00. Following the completion of the transaction, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 4,285 shares of company stock worth $232,849. Insiders own 6.10% of the company’s stock.
Matador Resources Stock Performance
Shares of MTDR stock opened at $61.07 on Friday. The company has a fifty day moving average price of $58.41 and a two-hundred day moving average price of $56.25. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The stock has a market cap of $7.62 billion, a P/E ratio of 8.09 and a beta of 3.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.
Matador Resources Company 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.
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