15,527 Shares in Matador Resources Company $MTDR Acquired by Cadence Wealth Management LLC

Cadence Wealth Management LLC acquired a new stake in Matador Resources Company (NYSE:MTDR) in the first quarter, according to its most recent filing with the SEC. The fund acquired 15,527 shares of the energy company’s stock, valued at approximately $981,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Matador Resources during the first quarter valued at about $27,000. Kestra Investment Management LLC raised its stake in 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 in the last quarter. Center for Financial Planning Inc. bought a new stake in Matador Resources during the first quarter valued at approximately $41,000. Measured Wealth Private Client Group LLC bought a new stake in Matador Resources during the third quarter valued at approximately $35,000. Finally, Geneos Wealth Management Inc. grew its stake in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after buying an additional 690 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Mizuho upped their target price on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Weiss Ratings cut Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, June 22nd. Finally, BMO Capital Markets lifted their price target on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Matador Resources Stock Up 1.1%

MTDR opened at $54.06 on Wednesday. The company has a market cap of $6.71 billion, a P/E ratio of 13.90 and a beta of 0.74. The business’s 50-day moving average price is $53.46 and its 200-day moving average price is $53.07. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.99 earnings per share. On average, equities analysts expect that Matador Resources Company will post 6.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $53.07 per share, with a total value of $106,140.00. Following the completion of the purchase, the chief executive officer directly owned 11,479 shares in the company, valued at approximately $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Glenn W. Stetson acquired 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This represents a 0.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 11,907 shares of company stock worth $635,712 over the last three months. Company insiders own 5.90% of the company’s stock.

About Matador Resources

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.