Hodges Capital Management Inc. Cuts Position in Matador Resources (NYSE:MTDR)

Hodges Capital Management Inc. lowered its position in shares of Matador Resources (NYSE:MTDR) by 0.1% in the 4th quarter, Holdings Channel reports. The fund owned 883,847 shares of the energy company’s stock after selling 915 shares during the period. Matador Resources comprises 3.0% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Hodges Capital Management Inc.’s holdings in Matador Resources were worth $49,725,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Matador Resources by 16.8% in the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after purchasing an additional 65,487 shares during the period. Stifel Financial Corp grew its position in Matador Resources by 81.2% in the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in Matador Resources during the 3rd quarter valued at about $10,526,000. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Matador Resources by 194.0% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock worth $817,000 after buying an additional 10,910 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Price Performance

NYSE MTDR opened at $57.98 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company has a market cap of $7.23 billion, a PE ratio of 7.68 and a beta of 3.22. The stock’s 50-day moving average price is $58.42 and its two-hundred day moving average price is $56.07.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MTDR shares. Stephens increased their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Morgan Stanley started coverage on Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price target for the company. Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $55.18 per share, with a total value of $110,360.00. Following the purchase, the chief executive officer now owns 42,251 shares in the company, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Thomas Elsener acquired 800 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,980 shares of company stock valued at $165,988 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

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 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.