Matador Resources Company (MTDR) Position Decreased by Cannell Peter B & Co. Inc.
Cannell Peter B & Co. Inc. reduced its position in shares of Matador Resources Company (NYSE:MTDR) by 11.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 513,075 shares of the energy company’s stock after selling 63,525 shares during the period. Cannell Peter B & Co. Inc. owned 0.51% of Matador Resources worth $10,964,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Matador Resources by 46,974.5% in the first quarter. BlackRock Inc. now owns 6,619,149 shares of the energy company’s stock worth $157,472,000 after buying an additional 6,605,088 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Matador Resources by 88.5% in the second quarter. Neuberger Berman Group LLC now owns 4,959,286 shares of the energy company’s stock worth $105,980,000 after buying an additional 2,328,250 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Matador Resources by 31.8% in the first quarter. TimesSquare Capital Management LLC now owns 2,683,690 shares of the energy company’s stock worth $63,845,000 after buying an additional 646,890 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Matador Resources by 126.3% in the second quarter. Bank of New York Mellon Corp now owns 1,142,808 shares of the energy company’s stock worth $24,422,000 after buying an additional 637,703 shares in the last quarter. Finally, Cortina Asset Management LLC boosted its stake in Matador Resources by 95.7% in the first quarter. Cortina Asset Management LLC now owns 820,691 shares of the energy company’s stock worth $19,524,000 after buying an additional 401,388 shares in the last quarter. Institutional investors and hedge funds own 91.96% of the company’s stock.
Shares of Matador Resources Company (NYSE:MTDR) traded up 1.61% during midday trading on Friday, reaching $23.96. 270,886 shares of the company’s stock traded hands. Matador Resources Company has a 52 week low of $19.99 and a 52 week high of $28.51. The stock’s 50 day moving average is $23.48 and its 200-day moving average is $23.18. The company has a market capitalization of $2.41 billion, a PE ratio of 12.38 and a beta of 1.20.
Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 2nd. The energy company reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. The company had revenue of $115.90 million for the quarter, compared to analyst estimates of $112.21 million. Matador Resources had a return on equity of 5.45% and a net margin of 43.04%. Matador Resources’s revenue was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, analysts forecast that Matador Resources Company will post $0.49 earnings per share for the current fiscal year.
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MTDR has been the topic of a number of recent analyst reports. ValuEngine cut shares of Matador Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Matador Resources in a research report on Thursday, July 20th. KLR Group increased their price objective on shares of Matador Resources from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, May 10th. BidaskClub raised shares of Matador Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Northland Securities set a $33.00 price objective on shares of Matador Resources and gave the company a “buy” rating in a research report on Monday, July 17th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $28.80.
In other Matador Resources news, Chairman Joseph Wm Foran sold 11,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $23.12, for a total value of $254,320.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Posner purchased 4,115 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost of $24.10 per share, for a total transaction of $99,171.50. Following the completion of the purchase, the director now owns 6,274 shares in the company, valued at approximately $151,203.40. The disclosure for this purchase can be found here. 11.90% 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 segments include exploration and production, and midstream.
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