Bleakley Financial Group LLC Buys New Position in Matador Resources (NYSE:MTDR)

Bleakley Financial Group LLC acquired a new stake in Matador Resources (NYSE:MTDR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,859 shares of the energy company’s stock, valued at approximately $217,000.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. raised its holdings in shares of Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after purchasing an additional 65,487 shares during the last quarter. Stifel Financial Corp increased its stake in Matador Resources by 81.2% in the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after purchasing an additional 13,583 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Matador Resources during the third quarter valued at about $10,526,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Matador Resources by 194.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock worth $817,000 after acquiring an additional 10,910 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Truist Financial upped their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. Finally, Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Price Performance

Shares of MTDR stock opened at $56.45 on Thursday. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $58.20 and a two-hundred day moving average of $55.85. The company has a market capitalization of $7.04 billion, a P/E ratio of 7.48 and a beta of 3.22.

Insider Transactions at Matador Resources

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

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.