Royal Bank of Canada trimmed its stake in shares of Matador Resources Company (NYSE:MTDR) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 768,064 shares of the energy company’s stock after selling 14,699 shares during the period. Royal Bank of Canada owned about 0.76% of Matador Resources worth $16,414,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MTDR. US Bancorp DE lifted its holdings in shares of Matador Resources by 26.2% during the first quarter. US Bancorp DE now owns 10,119 shares of the energy company’s stock valued at $241,000 after purchasing an additional 2,099 shares during the last quarter. Comerica Bank lifted its holdings in shares of Matador Resources by 5.3% during the first quarter. Comerica Bank now owns 9,198 shares of the energy company’s stock valued at $202,000 after purchasing an additional 461 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Matador Resources during the first quarter valued at $427,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Matador Resources by 0.9% during the first quarter. Parametric Portfolio Associates LLC now owns 115,469 shares of the energy company’s stock valued at $2,747,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Matador Resources during the first quarter valued at $178,000. 91.64% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on MTDR shares. Royal Bank Of Canada set a $29.00 target price on Matador Resources and gave the company a “buy” rating in a report on Thursday, August 3rd. Scotiabank reissued a “buy” rating and issued a $26.00 price objective on shares of Matador Resources in a research note on Thursday, August 3rd. Northland Securities set a $33.00 price objective on Matador Resources and gave the stock a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets set a $23.00 price objective on Matador Resources and gave the stock a “buy” rating in a research note on Monday, June 26th. Finally, BidaskClub raised Matador Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Matador Resources presently has an average rating of “Buy” and a consensus price target of $28.67.
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In related news, Director David M. Posner bought 4,115 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average price of $24.10 per share, for a total transaction of $99,171.50. Following the completion of the acquisition, the director now owns 6,274 shares of the company’s stock, valued at approximately $151,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.90% of the company’s stock.
Matador Resources Company (NYSE:MTDR) opened at 25.84 on Friday. Matador Resources Company has a one year low of $20.13 and a one year high of $28.51. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 13.35 and a beta of 1.26. The stock’s 50 day moving average price is $25.07 and its 200-day moving average price is $23.43.
Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, August 2nd. The energy company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Matador Resources had a return on equity of 5.45% and a net margin of 43.04%. The business had revenue of $115.90 million for the quarter, compared to analyst estimates of $112.21 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Matador Resources’s revenue was up 65.1% on a year-over-year basis. Analysts forecast that Matador Resources Company will post $0.50 earnings per share for the current year.
About Matador Resources
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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