Profund Advisors LLC Buys New Position in Matador Resources Company (MTDR)
Profund Advisors LLC bought a new position in shares of Matador Resources Company (NYSE:MTDR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,230 shares of the energy company’s stock, valued at approximately $240,000.
Other hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. acquired a new position in shares of Matador Resources during the first quarter worth $1,070,000. Principal Financial Group Inc. grew its stake in shares of Matador Resources by 3,072.3% during the second quarter. Principal Financial Group Inc. now owns 398,282 shares of the energy company’s stock worth $8,511,000 after purchasing an additional 385,727 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Matador Resources by 110.0% during the first quarter. Bank of America Corp DE now owns 507,269 shares of the energy company’s stock worth $12,068,000 after purchasing an additional 265,715 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Matador Resources by 2.5% during the second quarter. TD Asset Management Inc. now owns 36,200 shares of the energy company’s stock worth $774,000 after purchasing an additional 897 shares in the last quarter. Finally, State Street Corp boosted its stake in Matador Resources by 3.2% in the first quarter. State Street Corp now owns 3,386,614 shares of the energy company’s stock valued at $80,568,000 after acquiring an additional 106,117 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.
Several research firms have issued reports on MTDR. Zacks Investment Research upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Scotiabank set a $26.00 price objective on shares of Matador Resources and gave the company a “buy” rating in a research note on Saturday, July 1st. BidaskClub downgraded shares of Matador Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 7th. Barclays PLC set a $25.00 price objective on shares of Matador Resources and gave the company a “hold” rating in a research note on Wednesday. Finally, Northland Securities set a $33.00 price objective on shares of Matador Resources and gave the company a “buy” rating in a research note on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Matador Resources currently has a consensus rating of “Buy” and a consensus price target of $28.67.
Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.11 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. Matador Resources had a net margin of 43.04% and a return on equity of 5.45%. The business had revenue of $115.90 million during the quarter, compared to analyst estimates of $112.21 million. During the same period in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 65.1% on a year-over-year basis.
In other Matador Resources news, Director David M. Posner purchased 4,115 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $24.10 per share, with a total value of $99,171.50. Following the acquisition, the director now owns 6,274 shares of the company’s stock, valued at approximately $151,203.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.90% of the company’s stock.
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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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