Matador Resources (NYSE:MTDR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in Matador Resources (NYSE:MTDR) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,233 shares of the energy company’s stock after selling 300 shares during the quarter. State of Alaska Department of Revenue’s holdings in Matador Resources were worth $744,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MTDR. MassMutual Private Wealth & Trust FSB raised its position in Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares in the last quarter. ClearAlpha Technologies LP increased its holdings in shares of Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after purchasing an additional 218 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after purchasing an additional 260 shares during the period. Denver PWM LLC boosted its holdings in Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after buying an additional 303 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in Matador Resources by 6.5% during the third quarter. Coldstream Capital Management Inc. now owns 5,081 shares of the energy company’s stock valued at $252,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research report on Wednesday, January 15th. Truist Financial increased their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley assumed coverage on Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $75.14.

Matador Resources Trading Up 0.2 %

Shares of MTDR opened at $57.21 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. The firm has a 50-day moving average price of $58.22 and a 200 day moving average price of $55.84. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The firm has a market capitalization of $7.14 billion, a P/E ratio of 7.58 and a beta of 3.22.

Insider Activity

In related news, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the purchase, the chief executive officer now owns 42,251 shares of the company’s stock, valued at $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,980 shares of company stock valued at $165,988. 6.10% of the stock is currently owned by company insiders.

Matador Resources Company Profile

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.