Northern Trust Corp Raises Holdings in Matador Resources Company (MTDR)
Northern Trust Corp grew its position in Matador Resources Company (NYSE:MTDR) by 35.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,502,692 shares of the energy company’s stock after buying an additional 393,145 shares during the quarter. Northern Trust Corp owned 1.50% of Matador Resources worth $32,112,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. FNY Partners Fund LP lifted its holdings in shares of Matador Resources by 66.7% in the 1st quarter. FNY Partners Fund LP now owns 5,000 shares of the energy company’s stock worth $118,000 after buying an additional 2,000 shares during the period. Dubuque Bank & Trust Co. lifted its stake in shares of Matador Resources by 4.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 7,099 shares of the energy company’s stock worth $152,000 after purchasing an additional 275 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in shares of Matador Resources during the 2nd quarter worth $155,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Matador Resources during the 2nd quarter worth $165,000. Finally, Comerica Bank lifted its stake in shares of Matador Resources by 5.3% during the 1st quarter. Comerica Bank now owns 9,198 shares of the energy company’s stock worth $202,000 after purchasing an additional 461 shares during the last quarter. Institutional investors and hedge funds own 84.74% of the company’s stock.
MTDR has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $28.00 price objective on shares of Matador Resources in a research note on Thursday, July 20th. BidaskClub upgraded Matador Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Northland Securities set a $33.00 price objective on Matador Resources and gave the stock a “buy” rating in a research note on Monday, July 17th. Imperial Capital began coverage on Matador Resources in a research note on Tuesday, July 18th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Bank of America Corporation began coverage on Matador Resources in a research note on Wednesday, July 19th. They issued a “neutral” rating and a $26.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.67.
In related news, Director David M. Posner bought 4,115 shares of Matador Resources stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $24.10 per share, with a total value of $99,171.50. Following the purchase, the director now owns 6,274 shares in the company, valued at $151,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.90% of the stock is currently owned by corporate insiders.
Matador Resources Company (NYSE:MTDR) opened at 26.49 on Wednesday. Matador Resources Company has a 12 month low of $20.13 and a 12 month high of $28.51. The company’s 50-day moving average price is $25.19 and its 200-day moving average price is $23.46. The stock has a market cap of $2.66 billion, a P/E ratio of 13.69 and a beta of 1.26.
Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. Matador Resources had a return on equity of 5.45% and a net margin of 43.04%. The business had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $112.21 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The company’s revenue was up 65.1% compared to the same quarter last year. Equities analysts forecast that Matador Resources Company will post $0.50 earnings per share for the current year.
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Matador Resources Profile
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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