Thrivent Financial for Lutherans Raises Stock Position in Matador Resources Company $MTDR

Thrivent Financial for Lutherans grew its stake in shares of Matador Resources Company (NYSE:MTDR) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,032,602 shares of the energy company’s stock after acquiring an additional 37,889 shares during the period. Thrivent Financial for Lutherans owned about 0.83% of Matador Resources worth $46,395,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Matador Resources by 298.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Kestra Investment Management LLC grew its position in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after buying an additional 358 shares in the last quarter. Allworth Financial LP increased its stake in shares of Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after buying an additional 364 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Matador Resources in the second quarter valued at about $29,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after acquiring an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MTDR. Raymond James Financial reissued an “outperform” rating and set a $55.00 target price (down previously from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a research note on Thursday, December 18th. Morgan Stanley dropped their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Finally, Citigroup assumed coverage on Matador Resources in a report on Monday, December 8th. They issued a “buy” rating and a $53.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Insider Buying and Selling

In other Matador Resources news, EVP Robert T. Macalik bought 1,500 shares of Matador Resources stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $38.25 per share, with a total value of $57,375.00. Following the transaction, the executive vice president directly owned 35,039 shares of the company’s stock, valued at approximately $1,340,241.75. This represents a 4.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of $38.14 per share, with a total value of $38,140.00. Following the completion of the purchase, the chief executive officer owned 23,867 shares of the company’s stock, valued at $910,287.38. The trade was a 4.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 5,880 shares of company stock worth $223,398 in the last ninety days. 5.80% of the stock is owned by insiders.

Matador Resources Price Performance

Shares of MTDR opened at $43.66 on Tuesday. The company has a 50 day moving average of $42.85 and a two-hundred day moving average of $44.50. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $60.43. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 6.97 and a beta of 1.14.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.