Fisher Asset Management LLC Decreases Holdings in Matador Resources Co (MTDR)

Fisher Asset Management LLC reduced its holdings in shares of Matador Resources Co (NYSE:MTDR) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 334,050 shares of the energy company’s stock after selling 10,187 shares during the period. Fisher Asset Management LLC’s holdings in Matador Resources were worth $11,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its stake in Matador Resources by 10.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 534,000 shares of the energy company’s stock worth $16,047,000 after buying an additional 49,005 shares during the period. BlackRock Inc. boosted its stake in shares of Matador Resources by 11.1% in the second quarter. BlackRock Inc. now owns 11,706,885 shares of the energy company’s stock valued at $351,792,000 after purchasing an additional 1,170,138 shares during the period. United Services Automobile Association boosted its stake in shares of Matador Resources by 14.1% in the second quarter. United Services Automobile Association now owns 16,914 shares of the energy company’s stock valued at $508,000 after purchasing an additional 2,090 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Matador Resources by 6.9% in the second quarter. Mutual of America Capital Management LLC now owns 150,805 shares of the energy company’s stock valued at $4,532,000 after purchasing an additional 9,721 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Matador Resources by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,326,755 shares of the energy company’s stock valued at $39,870,000 after purchasing an additional 47,468 shares during the period. Institutional investors own 88.37% of the company’s stock.

MTDR has been the subject of several analyst reports. Evercore ISI initiated coverage on shares of Matador Resources in a research note on Tuesday, September 25th. They issued an “in-line” rating and a $38.00 target price for the company. Johnson Rice downgraded shares of Matador Resources from a “buy” rating to an “accumulate” rating and set a $38.00 target price for the company. in a research note on Wednesday, August 15th. Zacks Investment Research downgraded shares of Matador Resources from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. KLR Group restated a “buy” rating and issued a $38.00 target price on shares of Matador Resources in a research note on Monday, August 20th. Finally, Oppenheimer initiated coverage on shares of Matador Resources in a research note on Wednesday, October 3rd. They issued an “outperform” rating and a $43.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Matador Resources currently has a consensus rating of “Buy” and a consensus price target of $37.65.

MTDR opened at $27.88 on Tuesday. The firm has a market capitalization of $3.36 billion, a P/E ratio of 38.72, a P/E/G ratio of 0.79 and a beta of 1.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.22. Matador Resources Co has a 12-month low of $25.47 and a 12-month high of $35.22.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 1st. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.08. The firm had revenue of $211.37 million for the quarter, compared to analysts’ expectations of $185.07 million. Matador Resources had a net margin of 24.93% and a return on equity of 9.84%. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, equities research analysts anticipate that Matador Resources Co will post 1.49 EPS for the current fiscal year.

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 in 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.

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Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

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