Connors Investor Services Inc. grew its position in shares of Matador Resources Co (NYSE:MTDR) by 90.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 120,557 shares of the energy company’s stock after purchasing an additional 57,372 shares during the period. Connors Investor Services Inc.’s holdings in Matador Resources were worth $2,397,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in Matador Resources in the second quarter worth approximately $30,000. Marshall Wace LLP purchased a new stake in Matador Resources in the first quarter worth approximately $74,000. Zions Bancorporation N.A. purchased a new stake in Matador Resources in the first quarter worth approximately $91,000. Shell Asset Management Co. purchased a new stake in Matador Resources in the first quarter worth approximately $225,000. Finally, LPL Financial LLC purchased a new stake in Matador Resources in the second quarter worth approximately $235,000.
Shares of MTDR stock traded up $0.02 on Thursday, hitting $16.62. 46,514 shares of the stock traded hands, compared to its average volume of 2,410,060. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 1.00 and a beta of 2.00. Matador Resources Co has a 52 week low of $13.42 and a 52 week high of $34.90. The firm has a 50 day simple moving average of $15.74 and a two-hundred day simple moving average of $18.01. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.81 and a quick ratio of 0.75.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.11. The firm had revenue of $241.70 million for the quarter, compared to the consensus estimate of $210.42 million. Matador Resources had a net margin of 19.10% and a return on equity of 8.71%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. Sell-side analysts forecast that Matador Resources Co will post 1.07 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $24.00 target price on shares of Matador Resources and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upgraded shares of Matador Resources from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $28.00 to $26.00 in a report on Friday, June 7th. MKM Partners upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, May 28th. Wells Fargo & Co set a $33.00 target price on shares of Matador Resources and gave the stock a “hold” rating in a report on Thursday, July 11th. Finally, Williams Capital started coverage on shares of Matador Resources in a research report on Wednesday. They issued a “buy” rating and a $26.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $30.14.
In related news, EVP Bradley M. Robinson purchased 2,000 shares of Matador Resources stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $15.34 per share, for a total transaction of $30,680.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph Wm Foran purchased 8,000 shares of Matador Resources stock in a transaction on Monday, August 5th. The stock was bought at an average price of $15.05 per share, for a total transaction of $120,400.00. The disclosure for this purchase can be found here. Insiders have bought a total of 28,734 shares of company stock worth $419,588 over the last 90 days. Insiders own 6.90% of the company’s stock.
Matador Resources Company Profile
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 in 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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