Matador Resources (NYSE:MTDR) Stock Position Trimmed by Meritage Portfolio Management

Meritage Portfolio Management decreased its position in Matador Resources (NYSE:MTDR) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 107,074 shares of the energy company’s stock after selling 2,001 shares during the period. Meritage Portfolio Management’s holdings in Matador Resources were worth $6,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares during the period. ClearAlpha Technologies LP increased its holdings in shares of Matador Resources by 4.3% during the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after purchasing an additional 218 shares during the period. Greenleaf Trust raised its stake in shares of Matador Resources by 3.8% during the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after purchasing an additional 260 shares in the last quarter. Denver PWM LLC grew its position in Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after buying an additional 303 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Matador Resources by 6.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,081 shares of the energy company’s stock valued at $252,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the acquisition, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,980 shares of company stock valued at $165,988. 6.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

MTDR has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Wednesday, January 15th. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a report on Friday, January 17th. Wells Fargo & Company boosted their target price on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho reduced their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, KeyCorp decreased their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Trading Up 1.4 %

Shares of MTDR opened at $58.32 on Wednesday. The stock has a market cap of $7.28 billion, a PE ratio of 7.72 and a beta of 3.22. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $58.38 and a 200-day simple moving average of $55.98. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08.

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.