Griffin Asset Management Inc. Buys New Holdings in Matador Resources Co (MTDR)
Griffin Asset Management Inc. bought a new stake in Matador Resources Co (NYSE:MTDR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,210 shares of the energy company’s stock, valued at approximately $386,000.
Other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Matador Resources by 40.5% in the second quarter. State Street Corp now owns 4,756,810 shares of the energy company’s stock valued at $101,655,000 after purchasing an additional 1,370,196 shares during the period. Principal Financial Group Inc. raised its position in Matador Resources by 3,072.3% in the second quarter. Principal Financial Group Inc. now owns 398,282 shares of the energy company’s stock valued at $8,511,000 after purchasing an additional 385,727 shares during the period. TD Asset Management Inc. raised its position in Matador Resources by 2.5% in the second quarter. TD Asset Management Inc. now owns 36,200 shares of the energy company’s stock valued at $774,000 after purchasing an additional 897 shares during the period. Northpointe Capital LLC raised its position in Matador Resources by 9.7% in the third quarter. Northpointe Capital LLC now owns 400,228 shares of the energy company’s stock valued at $10,866,000 after purchasing an additional 35,248 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Matador Resources by 88.5% in the second quarter. Neuberger Berman Group LLC now owns 4,959,286 shares of the energy company’s stock valued at $105,980,000 after purchasing an additional 2,328,250 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.
Shares of Matador Resources Co (MTDR) traded down $0.33 during midday trading on Wednesday, hitting $27.40. The stock had a trading volume of 836,900 shares, compared to its average volume of 1,540,836. Matador Resources Co has a twelve month low of $20.13 and a twelve month high of $29.76. The stock has a market capitalization of $3,007.24, a price-to-earnings ratio of 51.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.58 and a current ratio of 0.60.
Matador Resources (NYSE:MTDR) last announced its earnings results on Monday, November 6th. The energy company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.08. The business had revenue of $126.28 million for the quarter, compared to analyst estimates of $123.62 million. Matador Resources had a return on equity of 5.99% and a net margin of 40.30%. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. research analysts expect that Matador Resources Co will post 0.63 EPS for the current fiscal year.
Several research firms have commented on MTDR. Northland Securities set a $33.00 price objective on Matador Resources and gave the company a “buy” rating in a research report on Monday. Mizuho set a $28.00 price objective on Matador Resources and gave the company a “hold” rating in a research report on Saturday, November 25th. Barclays raised their price objective on Matador Resources from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, November 20th. BMO Capital Markets set a $30.00 price objective on Matador Resources and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, Royal Bank of Canada lifted their target price on Matador Resources from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Matador Resources currently has an average rating of “Buy” and a consensus target price of $29.88.
In other news, Director David M. Posner acquired 1,035 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of $28.92 per share, with a total value of $29,932.20. Following the completion of the acquisition, the director now directly owns 6,274 shares in the company, valued at $181,444.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.90% of the stock is owned by insiders.
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About Matador Resources
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s segments include exploration and production, and midstream.
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