Merit Financial Group LLC Buys New Stake in Matador Resources (NYSE:MTDR)

Merit Financial Group LLC purchased a new position in shares of Matador Resources (NYSE:MTDR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,463 shares of the energy company’s stock, valued at approximately $251,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in shares of Matador Resources by 40.7% during the 2nd quarter. Sei Investments Co. now owns 98,581 shares of the energy company’s stock worth $5,875,000 after buying an additional 28,517 shares during the period. AQR Capital Management LLC raised its stake in Matador Resources by 157.0% during the second quarter. AQR Capital Management LLC now owns 334,646 shares of the energy company’s stock worth $19,945,000 after acquiring an additional 204,420 shares in the last quarter. Scientech Research LLC bought a new position in shares of Matador Resources during the second quarter valued at $456,000. Algert Global LLC acquired a new stake in shares of Matador Resources in the 2nd quarter valued at $712,000. Finally, Creative Planning boosted its stake in shares of Matador Resources by 7.5% in the 2nd quarter. Creative Planning now owns 39,952 shares of the energy company’s stock valued at $2,381,000 after purchasing an additional 2,771 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Matador Resources

In related news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $55.18 per share, with a total value of $110,360.00. Following the acquisition, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 4,285 shares of company stock worth $232,849 in the last quarter. 6.10% of the stock is owned by company insiders.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $61.07 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The stock has a market capitalization of $7.62 billion, a P/E ratio of 8.09 and a beta of 3.24. The business has a 50-day moving average price of $58.41 and a two-hundred day moving average price of $56.25.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MTDR. BMO Capital Markets increased their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. TD Cowen increased their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Mizuho cut their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.14.

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.