Cannell Peter B & Co. Inc. Trims Holdings in Matador Resources Co (MTDR)

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Cannell Peter B & Co. Inc. reduced its stake in Matador Resources Co (NYSE:MTDR) by 44.0% during the third quarter, Holdings Channel reports. The fund owned 62,250 shares of the energy company’s stock after selling 48,975 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Matador Resources were worth $2,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTDR. Glenmede Trust Co. NA grew its stake in shares of Matador Resources by 180,414.4% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,483,828 shares of the energy company’s stock worth $44,588,000 after buying an additional 1,483,006 shares in the last quarter. BlackRock Inc. grew its stake in shares of Matador Resources by 11.1% in the 2nd quarter. BlackRock Inc. now owns 11,706,885 shares of the energy company’s stock worth $351,792,000 after buying an additional 1,170,138 shares in the last quarter. OppenheimerFunds Inc. grew its stake in shares of Matador Resources by 40.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,026,084 shares of the energy company’s stock worth $60,885,000 after buying an additional 581,649 shares in the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Matador Resources in the 2nd quarter worth $11,643,000. Finally, Schroder Investment Management Group purchased a new position in shares of Matador Resources in the 2nd quarter worth $11,619,000. Institutional investors own 88.19% of the company’s stock.

NYSE:MTDR opened at $26.99 on Friday. Matador Resources Co has a one year low of $25.47 and a one year high of $35.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.63. The stock has a market capitalization of $3.21 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.37 by $0.11. Matador Resources had a net margin of 22.69% and a return on equity of 11.17%. The business had revenue of $207.18 million during the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. Research analysts forecast that Matador Resources Co will post 1.66 earnings per share for the current year.

A number of research firms recently commented on MTDR. ValuEngine cut shares of Matador Resources from a “buy” rating to a “hold” rating in a research note 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 research note on Friday, August 3rd. Imperial Capital lifted their price target on shares of Matador Resources from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note 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 for the company in a research note on Monday, October 22nd. Finally, Oppenheimer began coverage on shares of Matador Resources in a research note on Wednesday, October 3rd. They set an “outperform” rating and a $43.00 price target for the company. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Matador Resources currently has a consensus rating of “Buy” and a consensus target price of $37.47.

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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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Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

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