Thrivent Financial for Lutherans Boosts Stake in Matador Resources Company $MTDR

Thrivent Financial for Lutherans lifted its stake in shares of Matador Resources Company (NYSE:MTDR) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,032,602 shares of the energy company’s stock after buying an additional 37,889 shares during the period. Thrivent Financial for Lutherans’ holdings in Matador Resources were worth $46,395,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MTDR. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Matador Resources by 298.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after acquiring an additional 400 shares during the period. Kestra Investment Management LLC increased its holdings in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the period. Allworth Financial LP raised its stake in shares of Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after purchasing an additional 364 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Matador Resources during the second quarter worth about $29,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran bought 1,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $38.14 per share, with a total value of $38,140.00. Following the purchase, the chief executive officer directly owned 23,867 shares in the company, valued at $910,287.38. The trade was a 4.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert T. Macalik purchased 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $38.25 per share, with a total value of $57,375.00. Following the purchase, the executive vice president owned 35,039 shares in the company, valued at $1,340,241.75. This represents a 4.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 5,880 shares of company stock worth $223,398. Company insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MTDR. Citigroup initiated coverage on shares of Matador Resources in a report on Monday, December 8th. They issued a “buy” rating and a $53.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. Royal Bank Of Canada reduced their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. UBS Group upped their price target on shares of Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, KeyCorp reiterated an “overweight” rating on shares of Matador Resources in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $43.66 on Tuesday. The company’s fifty day moving average price is $42.85 and its 200 day moving average price is $44.50. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $60.43. The company has a market capitalization of $5.43 billion, a PE ratio of 6.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.69 and a current ratio of 0.73.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.