Oak Ridge Investments LLC Sells 2,181 Shares of Matador Resources (NYSE:MTDR)

Oak Ridge Investments LLC reduced its stake in Matador Resources (NYSE:MTDR) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,173 shares of the energy company’s stock after selling 2,181 shares during the period. Oak Ridge Investments LLC’s holdings in Matador Resources were worth $3,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MTDR. True Wealth Design LLC bought a new stake in Matador Resources in the third quarter valued at $37,000. Denver PWM LLC boosted its stake in shares of 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 purchasing an additional 303 shares in the last quarter. Quarry LP grew its holdings in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Price Performance

MTDR opened at $63.83 on Friday. The company has a fifty day moving average price of $57.94 and a two-hundred day moving average price of $56.13. The firm has a market capitalization of $7.96 billion, a PE ratio of 8.45 and a beta of 3.24. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Matador Resources will post 7.46 earnings per share for the current year.

Insider Activity

In related news, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the transaction, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 4,285 shares of company stock valued at $232,849 in the last quarter. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MTDR shares. TD Cowen raised their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Mizuho dropped their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Morgan Stanley started coverage on Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.14.

About Matador Resources

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.