Pitcairn Co. trimmed its position in shares of Matador Resources Co (NYSE:MTDR) by 13.6% during the third quarter, Holdings Channel reports. The fund owned 16,514 shares of the energy company’s stock after selling 2,610 shares during the quarter. Pitcairn Co.’s holdings in Matador Resources were worth $545,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MTDR. Russell Investments Group Ltd. boosted its holdings in shares of Matador Resources by 24.3% in the 1st quarter. Russell Investments Group Ltd. now owns 40,375 shares of the energy company’s stock worth $1,208,000 after buying an additional 7,882 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Matador Resources in the 1st quarter worth about $205,000. Legal & General Group Plc boosted its holdings in shares of Matador Resources by 20.8% in the 1st quarter. Legal & General Group Plc now owns 101,834 shares of the energy company’s stock worth $3,046,000 after buying an additional 17,535 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Matador Resources by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 471,773 shares of the energy company’s stock worth $14,111,000 after buying an additional 17,886 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new position in shares of Matador Resources in the 2nd quarter worth about $10,344,000. 88.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of Matador Resources from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Northland Securities set a $39.00 price target on shares of Matador Resources and gave the stock a “buy” rating in a report on Friday, August 3rd. Imperial Capital boosted their price target on shares of Matador Resources from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. Zacks Investment Research raised shares of Matador Resources from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, October 22nd. Finally, Oppenheimer assumed coverage on shares of Matador Resources in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $43.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.47.
Shares of Matador Resources stock opened at $28.21 on Wednesday. Matador Resources Co has a 52-week low of $25.47 and a 52-week high of $35.22. The stock has a market capitalization of $3.19 billion, a P/E ratio of 39.18, a PEG ratio of 0.71 and a beta of 1.54. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 0.62.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.11. Matador Resources had a return on equity of 11.17% and a net margin of 22.69%. The business had revenue of $207.18 million for the quarter, compared to analysts’ expectations of $208.75 million. During the same period in the previous year, the business posted $0.11 EPS. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Matador Resources Co will post 1.6 EPS for the current year.
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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 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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