KLP Kapitalforvaltning AS increased its position in shares of Matador Resources Company (NYSE:MTDR – Free Report) by 6.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,700 shares of the energy company’s stock after acquiring an additional 1,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Matador Resources were worth $1,179,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock valued at $138,000 after buying an additional 809 shares during the last quarter. SG Americas Securities LLC raised its stake in Matador Resources by 316.2% during the 1st quarter. SG Americas Securities LLC now owns 15,484 shares of the energy company’s stock worth $791,000 after buying an additional 11,764 shares during the period. Opal Wealth Advisors LLC acquired a new position in Matador Resources during the 1st quarter worth approximately $28,000. Exchange Traded Concepts LLC raised its stake in Matador Resources by 1,263.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,781 shares of the energy company’s stock worth $142,000 after buying an additional 2,577 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Matador Resources by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company’s stock worth $555,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.
Matador Resources Trading Down 1.4%
MTDR opened at $42.90 on Wednesday. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04. The stock has a market cap of $5.34 billion, a PE ratio of 6.28 and a beta of 1.41. The business has a 50 day moving average of $47.00 and a 200-day moving average of $46.32. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.
Wall Street Analyst Weigh In
Several brokerages have recently commented on MTDR. William Blair assumed coverage on Matador Resources in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Wells Fargo & Company reduced their price objective on Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley reduced their price objective on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday. KeyCorp dropped their target price on Matador Resources from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Finally, TD Cowen upgraded Matador Resources to a “strong-buy” rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.43.
Insider Buying and Selling
In other news, CEO Joseph Wm Foran acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. The trade was a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William Thomas Elsener bought 600 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were bought at an average price of $48.46 per share, with a total value of $29,076.00. Following the completion of the purchase, the executive vice president owned 112,069 shares in the company, valued at approximately $5,430,863.74. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 11,380 shares of company stock worth $549,188 in the last three months. Insiders own 5.80% of the company’s stock.
About Matador Resources
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.
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