EMC Capital Management Raises Stake in Matador Resources (NYSE:MTDR)

EMC Capital Management lifted its position in Matador Resources (NYSE:MTDR) by 25.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,042 shares of the energy company’s stock after purchasing an additional 1,424 shares during the period. EMC Capital Management’s holdings in Matador Resources were worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after buying an additional 207 shares during the period. True Wealth Design LLC purchased a new position in shares of Matador Resources in the third quarter valued at about $37,000. Denver PWM LLC boosted its stake in shares of Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after acquiring an additional 303 shares during the period. Quarry LP grew its position in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Price Performance

NYSE:MTDR opened at $60.15 on Thursday. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 8.00 and a beta of 3.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The business has a 50 day simple moving average of $58.50 and a 200-day simple moving average of $56.22. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08.

Insider Activity at Matador Resources

In other news, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $56.60 per share, with a total value of $45,280.00. Following the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The acquisition 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 firm’s stock in a transaction on Friday, December 6th. The stock was purchased 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. The trade was 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 purchased 2,980 shares of company stock worth $165,988. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MTDR shares. JPMorgan Chase & Co. cut 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. KeyCorp dropped their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley started coverage on shares of Matador Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target on the stock. Mizuho dropped their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company raised 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. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.14.

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.