King Luther Capital Management Corp raised its position in shares of Matador Resources Co (NYSE:MTDR) by 3.1% in the third quarter, HoldingsChannel reports. The firm owned 158,430 shares of the energy company’s stock after buying an additional 4,770 shares during the period. King Luther Capital Management Corp’s holdings in Matador Resources were worth $5,236,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in shares of Matador Resources during the 3rd quarter worth about $116,000. Northstar Investment Advisors LLC purchased a new stake in shares of Matador Resources during the 3rd quarter worth about $205,000. Wesbanco Bank Inc. purchased a new stake in shares of Matador Resources during the 3rd quarter worth about $208,000. Capital Fund Management S.A. purchased a new stake in shares of Matador Resources during the 2nd quarter worth about $207,000. Finally, BB&T Corp purchased a new stake in shares of Matador Resources during the 3rd quarter worth about $232,000. 87.56% of the stock is owned by institutional investors.
MTDR has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on Matador Resources in a research note on Tuesday, September 25th. They issued an “in-line” rating and a $38.00 price objective on the stock. Johnson Rice downgraded Matador Resources from a “buy” rating to an “accumulate” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, August 15th. Zacks Investment Research downgraded Matador Resources from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Wells Fargo & Co cut their price objective on Matador Resources from $43.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 23rd. Finally, Oppenheimer initiated coverage on Matador Resources in a research note on Wednesday, October 3rd. They issued an “outperform” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Matador Resources has an average rating of “Buy” and a consensus target price of $35.76.
Shares of MTDR stock opened at $21.29 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 0.62. Matador Resources Co has a twelve month low of $21.25 and a twelve month high of $35.22. The company has a market capitalization of $2.53 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.58 and a beta of 1.43.
Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.11. The business had revenue of $207.18 million for the quarter, compared to the consensus estimate of $208.75 million. Matador Resources had a return on equity of 11.17% and a net margin of 22.69%. The firm’s revenue was up 64.1% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, research analysts forecast that Matador Resources Co will post 1.66 EPS for the current year.
In other Matador Resources news, Director Reynald Baribault bought 1,500 shares of the stock in a transaction on Wednesday, November 28th. The shares were purchased at an average price of $21.75 per share, with a total value of $32,625.00. Following the acquisition, the director now directly owns 26,659 shares of the company’s stock, valued at approximately $579,833.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David E. Lancaster bought 2,500 shares of the stock in a transaction on Wednesday, November 28th. The stock was acquired at an average cost of $21.88 per share, for a total transaction of $54,700.00. The disclosure for this purchase can be found here. Insiders acquired a total of 27,000 shares of company stock worth $636,231 in the last ninety days. Insiders own 11.10% of the company’s stock.
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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 in 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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