Northpointe Capital LLC raised its position in shares of Matador Resources Co. (NYSE:MTDR) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 470,723 shares of the energy company’s stock after buying an additional 28,209 shares during the period. Matador Resources accounts for 1.1% of Northpointe Capital LLC’s holdings, making the stock its 29th largest position. Northpointe Capital LLC’s holdings in Matador Resources were worth $9,320,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Value Holdings LP purchased a new position in Matador Resources during the first quarter worth about $114,000. First Manhattan Co. raised its position in Matador Resources by 7.5% in the second quarter. First Manhattan Co. now owns 6,450 shares of the energy company’s stock worth $127,000 after buying an additional 450 shares during the last quarter. BlackRock Inc. raised its position in Matador Resources by 79.0% in the first quarter. BlackRock Inc. now owns 6,922 shares of the energy company’s stock worth $132,000 after buying an additional 3,055 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in Matador Resources during the second quarter worth about $144,000. Finally, Fox Run Management L.L.C. purchased a new position in Matador Resources during the second quarter worth about $261,000. 80.78% of the stock is currently owned by institutional investors.
Shares of Matador Resources Co. (NYSE:MTDR) traded down 3.08% on Monday, hitting $23.59. The company had a trading volume of 1,761,255 shares. The firm has a 50 day moving average of $22.77 and a 200-day moving average of $21.55. Matador Resources Co. has a 12-month low of $11.13 and a 12-month high of $28.25. The firm’s market capitalization is $2.20 billion.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Matador Resources had a negative return on equity of 1.92% and a negative net margin of 269.02%. The company earned $45.20 million during the quarter, compared to the consensus estimate of $62.61 million. During the same period in the prior year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was down 42.1% compared to the same quarter last year. On average, equities analysts predict that Matador Resources Co. will post ($0.12) EPS for the current year.
A number of research analysts recently issued reports on MTDR shares. Imperial Capital lifted their target price on Matador Resources from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Canaccord Genuity reiterated a “hold” rating and issued a $20.00 price target on shares of Matador Resources in a research report on Friday, August 12th. Sterne Agee CRT initiated coverage on Matador Resources in a research report on Wednesday, June 8th. They issued a “buy” rating and a $29.00 price target for the company. Wells Fargo & Co. initiated coverage on Matador Resources in a research report on Thursday, July 7th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Matador Resources from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.77.
In other news, Director William M. Byerley acquired 2,288 shares of Matador Resources stock in a transaction dated Monday, August 8th. The stock was bought at an average cost of $21.86 per share, with a total value of $50,015.68. Following the completion of the transaction, the director now directly owns 4,035 shares of the company’s stock, valued at $88,205.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joe A. Davis acquired 8,767 shares of Matador Resources stock in a transaction dated Thursday, September 1st. The shares were purchased at an average cost of $22.70 per share, with a total value of $199,010.90. Following the completion of the transaction, the director now directly owns 1,747 shares of the company’s stock, valued at $39,656.90. The disclosure for this purchase can be found here. 12.70% of the stock is owned by company insiders.
Matador Resources Company Profile
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s segment is oil and natural gas exploration and production.
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