Parallel Advisors LLC increased its stake in Matador Resources Company (NYSE:MTDR) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,982 shares of the energy company’s stock after buying an additional 682 shares during the period. Parallel Advisors LLC’s holdings in Matador Resources Company were worth $153,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Matador Resources Company during the first quarter worth $120,000. Dubuque Bank & Trust Co. acquired a new position in shares of Matador Resources Company during the first quarter worth $162,000. Ameritas Investment Partners Inc. acquired a new position in shares of Matador Resources Company during the first quarter worth $178,000. Comerica Bank increased its position in shares of Matador Resources Company by 5.3% in the first quarter. Comerica Bank now owns 9,198 shares of the energy company’s stock worth $202,000 after buying an additional 461 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Matador Resources Company during the fourth quarter worth $204,000. Institutional investors and hedge funds own 86.72% of the company’s stock.
Matador Resources Company (NYSE MTDR) traded up 1.21% on Tuesday, hitting $21.74. 2,158,118 shares of the company were exchanged. The firm’s 50 day moving average is $23.09 and its 200 day moving average is $24.29. The company has a market capitalization of $2.18 billion, a P/E ratio of 38.27 and a beta of 1.18. Matador Resources Company has a 52 week low of $18.56 and a 52 week high of $28.51.
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Several brokerages recently issued reports on MTDR. Stifel Nicolaus raised their target price on shares of Matador Resources Company from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Scotiabank restated a “buy” rating on shares of Matador Resources Company in a report on Thursday, February 23rd. TheStreet upgraded shares of Matador Resources Company from a “d” rating to a “c” rating in a report on Wednesday, February 22nd. FBR & Co set a $32.00 target price on shares of Matador Resources Company and gave the stock a “buy” rating in a report on Saturday, February 25th. Finally, KLR Group raised their target price on shares of Matador Resources Company from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $29.33.
In related news, Chairman Joseph Wm Foran sold 11,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $23.12, for a total transaction of $254,320.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julia P. Forrester purchased 1,255 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were purchased at an average cost of $23.96 per share, for a total transaction of $30,069.80. Following the completion of the acquisition, the director now directly owns 3,399 shares of the company’s stock, valued at approximately $81,440.04. The disclosure for this purchase can be found here. 11.90% of the stock is owned by corporate insiders.
About Matador Resources Company
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 segments include exploration and production, and midstream.
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