Rafferty Asset Management LLC Takes Position in Matador Resources Co (MTDR)

Rafferty Asset Management LLC acquired a new stake in Matador Resources Co (NYSE:MTDR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,920 shares of the energy company’s stock, valued at approximately $394,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTDR. Glenmede Trust Co. NA increased its position 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 valued at $44,588,000 after buying an additional 1,483,006 shares in the last quarter. BlackRock Inc. increased its holdings in Matador Resources by 11.1% during the 2nd quarter. BlackRock Inc. now owns 11,706,885 shares of the energy company’s stock worth $351,792,000 after purchasing an additional 1,170,138 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Matador Resources by 40.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,026,084 shares of the energy company’s stock worth $60,885,000 after purchasing an additional 581,649 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in Matador Resources during the 2nd quarter worth about $11,643,000. Finally, Schroder Investment Management Group bought a new position in Matador Resources during the 2nd quarter worth about $11,619,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

In related news, CFO David E. Lancaster acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was bought at an average price of $21.88 per share, for a total transaction of $54,700.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Reynald Baribault bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average price of $21.75 per share, with a total value of $32,625.00. Following the completion of the purchase, the director now directly owns 26,659 shares in the company, valued at approximately $579,833.25. The disclosure for this purchase can be found here. Insiders bought a total of 26,800 shares of company stock valued at $631,411 in the last 90 days. 11.10% of the stock is owned by corporate insiders.

A number of research firms have issued reports on MTDR. Wells Fargo & Co lowered their target price on Matador Resources from $43.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, October 23rd. BMO Capital Markets set a $34.00 target price on Matador Resources and gave the stock a “buy” rating in a report on Sunday, August 12th. Evercore ISI began coverage on Matador Resources in a report on Tuesday, September 25th. They set an “in-line” rating and a $38.00 target price for the company. SunTrust Banks cut Matador Resources from a “buy” rating to a “hold” rating and lowered their target price for the stock from $42.00 to $35.00 in a report on Monday, September 24th. They noted that the move was a valuation call. Finally, Oppenheimer began coverage on Matador Resources in a report on Wednesday, October 3rd. They set an “outperform” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $38.00.

Shares of NYSE MTDR opened at $24.36 on Tuesday. The stock has a market capitalization of $2.65 billion, a PE ratio of 33.83, a P/E/G ratio of 0.61 and a beta of 1.44. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.63. Matador Resources Co has a fifty-two week low of $21.43 and a fifty-two week high of $35.22.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. The company had revenue of $207.18 million during the quarter, compared to analysts’ expectations of $208.75 million. Matador Resources had a return on equity of 11.17% and a net margin of 22.69%. Matador Resources’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. As a group, sell-side analysts forecast that Matador Resources Co will post 1.67 EPS for the current fiscal year.

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Matador Resources 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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