Bayforest Capital Ltd Increases Holdings in Matador Resources Company $MTDR

Key Points

• Bayforest Capital Ltd significantly increased its stake in Matador Resources by 636.3% during Q2, bringing their total ownership to 13,680 shares valued at $653,000.
• Several research analysts have mixed ratings on Matador Resources, with a consensus rating of "Moderate Buy" and a price target of $66.50; one analyst rates it as a Strong Buy.
• Insider trading activity showed that CEO Joseph Wm Foran bought 2,000 shares of the stock at $48.15 each, increasing his position by 33.20%.

Bayforest Capital Ltd increased its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 636.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,680 shares of the energy company's stock after buying an additional 11,822 shares during the quarter. Bayforest Capital Ltd's holdings in Matador Resources were worth $653,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its position in Matador Resources by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after purchasing an additional 244 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after buying an additional 267 shares during the period. State of Michigan Retirement System raised its holdings in shares of Matador Resources by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock valued at $1,420,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Matador Resources by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock valued at $1,660,000 after buying an additional 300 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Matador Resources by 11.3% in the 2nd quarter. Signaturefd LLC now owns 3,032 shares of the energy company's stock valued at $145,000 after buying an additional 308 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Matador Resources in a report on Saturday, September 27th. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. KeyCorp lowered their target price on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Wells Fargo & Company lowered their target price on Matador Resources from $77.00 to $76.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Royal Bank Of Canada boosted their target price on Matador Resources from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and a consensus price target of $66.50.

Matador Resources Stock Up 3.1%

MTDR opened at $43.46 on Tuesday. The business has a 50 day moving average price of $47.10 and a two-hundred day moving average price of $46.34. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market cap of $5.41 billion, a PE ratio of 6.36 and a beta of 1.41. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 EPS. As a group, research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $48.15 per share, with a total value of $96,300.00. Following the purchase, the chief executive officer directly owned 8,025 shares of the company's stock, valued at approximately $386,403.75. This trade represents a 33.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William Thomas Elsener acquired 600 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average cost of $48.46 per share, with a total value of $29,076.00. Following the completion of the purchase, the executive vice president directly owned 112,069 shares in the company, valued at $5,430,863.74. This represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 11,380 shares of company stock worth $549,188 in the last quarter. Company insiders own 5.80% of the company's stock.

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.

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