Conestoga Capital Advisors LLC Raises Stake in Matador Resources Co. (MTDR)
Conestoga Capital Advisors LLC boosted its position in Matador Resources Co. (NYSE:MTDR) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,134,978 shares of the energy company’s stock after buying an additional 24,810 shares during the period. Matador Resources accounts for approximately 1.9% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 28th largest position. Conestoga Capital Advisors LLC owned approximately 1.22% of Matador Resources worth $27,625,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Matador Resources by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,063,226 shares of the energy company’s stock worth $120,052,000 after buying an additional 164,563 shares in the last quarter. State Street Corp increased its stake in Matador Resources by 8.6% in the second quarter. State Street Corp now owns 2,796,998 shares of the energy company’s stock worth $55,384,000 after buying an additional 222,027 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Matador Resources by 12.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,414,353 shares of the energy company’s stock worth $47,804,000 after buying an additional 272,502 shares in the last quarter. BlackRock Fund Advisors increased its stake in Matador Resources by 4.4% in the second quarter. BlackRock Fund Advisors now owns 2,072,680 shares of the energy company’s stock worth $41,039,000 after buying an additional 88,290 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in Matador Resources by 13.3% in the second quarter. Silvercrest Asset Management Group LLC now owns 2,008,146 shares of the energy company’s stock worth $39,761,000 after buying an additional 236,459 shares in the last quarter. 80.92% of the stock is owned by institutional investors.
Matador Resources Co. (NYSE:MTDR) traded up 5.02% during trading on Monday, hitting $25.74. The company had a trading volume of 1,347,333 shares. The company’s 50 day moving average price is $23.16 and its 200-day moving average price is $22.27. The stock’s market capitalization is $2.41 billion. Matador Resources Co. has a 1-year low of $11.13 and a 1-year high of $26.42.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, November 1st. The energy company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.07. The firm had revenue of $88.70 million for the quarter, compared to analyst estimates of $78.07 million. Matador Resources had a negative return on equity of 1.60% and a negative net margin of 176.09%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. On average, analysts expect that Matador Resources Co. will post ($0.05) EPS for the current year.
A number of equities research analysts have recently weighed in on MTDR shares. Zacks Investment Research raised Matador Resources from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Saturday, November 5th. Imperial Capital lifted their target price on Matador Resources from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Canaccord Genuity reissued a “hold” rating and set a $20.00 target price on shares of Matador Resources in a report on Friday, August 12th. FBR & Co set a $30.00 price target on Matador Resources and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Finally, Mizuho started coverage on Matador Resources in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Matador Resources currently has a consensus rating of “Buy” and an average target price of $24.02.
In other Matador Resources news, Director Joe A. Davis acquired 8,767 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average price of $22.70 per share, for a total transaction of $199,010.90. Following the acquisition, the director now owns 1,747 shares in the company, valued at approximately $39,656.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.70% of the stock is owned by company insiders.
About Matador Resources
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s segment is oil and natural gas exploration and production.
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