EMC Capital Management Grows Stake in Matador Resources (NYSE:MTDR)

EMC Capital Management grew its position in Matador Resources (NYSE:MTDR) by 25.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,042 shares of the energy company’s stock after purchasing an additional 1,424 shares during the quarter. EMC Capital Management’s holdings in Matador Resources were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Matador Resources by 2.7% during the third quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock valued at $136,009,000 after buying an additional 72,077 shares during the period. Clearbridge Investments LLC raised its position in shares of Matador Resources by 10.5% in the 2nd 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after purchasing an additional 36,921 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Matador Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock valued at $70,914,000 after purchasing an additional 57,254 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in Matador Resources by 4.3% during the third quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company’s stock valued at $63,633,000 after purchasing an additional 52,498 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens increased their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley initiated coverage on shares of Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price for the company. BMO Capital Markets lifted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. KeyCorp decreased their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Insiders Place Their Bets

In related news, EVP William Thomas Elsener bought 800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at $2,331,410.18. This trade represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,980 shares of company stock valued at $165,988. 6.10% of the stock is owned by insiders.

Matador Resources Trading Down 0.2 %

Shares of NYSE:MTDR opened at $60.15 on Thursday. The business has a 50-day moving average price of $58.50 and a 200-day moving average price of $56.22. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 8.00 and a beta of 3.24. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

About Matador Resources

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.