Retirement Systems of Alabama Grows Position in Matador Resources (NYSE:MTDR)

Retirement Systems of Alabama increased its holdings in shares of Matador Resources (NYSE:MTDR) by 99.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 281,493 shares of the energy company’s stock after acquiring an additional 140,486 shares during the period. Retirement Systems of Alabama’s holdings in Matador Resources were worth $15,837,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after buying an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P increased its position in 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 worth $22,519,000 after purchasing an additional 65,487 shares during the last quarter. Stifel Financial Corp raised its position in shares of Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Matador Resources in the 3rd quarter valued at $10,526,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Matador Resources by 194.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock worth $817,000 after buying an additional 10,910 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on MTDR shares. JPMorgan Chase & Co. lowered their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Stephens increased their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho dropped their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two 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, the company has an average rating of “Moderate Buy” and an average target price of $75.14.

Matador Resources Trading Up 0.4 %

Shares of MTDR stock opened at $56.68 on Friday. The business’s fifty day moving average price is $58.22 and its 200 day moving average price is $55.95. The firm has a market capitalization of $7.07 billion, a PE ratio of 7.51 and a beta of 3.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08.

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.