Concurrent Investment Advisors LLC Acquires 294 Shares of Matador Resources Company $MTDR

Concurrent Investment Advisors LLC raised its holdings in Matador Resources Company (NYSE:MTDR) by 0.5% in the second quarter, HoldingsChannel.com reports. The firm owned 55,776 shares of the energy company’s stock after purchasing an additional 294 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Matador Resources were worth $2,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 purchasing an additional 267 shares during the period. State of Michigan Retirement System boosted its holdings in 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 purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System increased its holdings in 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. Signaturefd LLC increased its holdings in 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. Finally, Janney Montgomery Scott LLC increased its holdings in Matador Resources by 3.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company’s stock valued at $555,000 after buying an additional 340 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 3.1%

Shares of Matador Resources stock opened at $43.46 on Tuesday. The firm has a market capitalization of $5.41 billion, a PE ratio of 6.36 and a beta of 1.41. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $47.10 and its 200 day moving average is $46.34. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 EPS. Equities research analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MTDR shares. Morgan Stanley raised their target price on shares of Matador Resources from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. KeyCorp decreased their target price on shares of Matador Resources from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Royal Bank Of Canada raised their target price on shares of Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. TD Cowen raised shares of Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. Finally, Mizuho decreased their target price on shares of Matador Resources from $69.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus target price of $66.50.

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.