Matador Resources (NYSE:MTDR) Position Trimmed by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its position in shares of Matador Resources (NYSE:MTDR) by 21.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,751 shares of the energy company’s stock after selling 15,828 shares during the period. Griffin Asset Management Inc.’s holdings in Matador Resources were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after buying an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after buying an additional 65,487 shares during the last quarter. Stifel Financial Corp increased its position in shares of Matador Resources by 81.2% in the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Matador Resources during the 3rd quarter valued at about $10,526,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Matador Resources by 194.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock valued at $817,000 after buying an additional 10,910 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MTDR shares. TD Cowen lifted their target price on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. Morgan Stanley assumed coverage on shares of Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective for the company. Finally, Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.14.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener acquired 800 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were bought at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the purchase, the chief executive officer now owns 42,251 shares in the company, valued at approximately $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,980 shares of company stock worth $217,318 in the last quarter. Company insiders own 6.10% of the company’s stock.

Matador Resources Stock Down 2.5 %

Shares of NYSE:MTDR opened at $59.57 on Tuesday. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 7.89 and a beta of 3.24. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The business’s 50-day moving average is $58.43 and its 200-day moving average is $56.20.

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 through 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.