Earnest Partners LLC Makes New Investment in Matador Resources Co (NYSE:MTDR)

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Earnest Partners LLC bought a new position in shares of Matador Resources Co (NYSE:MTDR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,259,974 shares of the energy company’s stock, valued at approximately $64,808,000. Earnest Partners LLC owned about 2.79% of Matador Resources at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of Matador Resources in the first quarter valued at about $74,000. Zions Bancorporation N.A. acquired a new stake in shares of Matador Resources in the first quarter valued at about $91,000. Shell Asset Management Co. acquired a new stake in shares of Matador Resources in the first quarter valued at about $225,000. LPL Financial LLC acquired a new stake in shares of Matador Resources in the second quarter valued at about $235,000. Finally, MML Investors Services LLC grew its position in shares of Matador Resources by 8.3% in the second quarter. MML Investors Services LLC now owns 11,969 shares of the energy company’s stock valued at $238,000 after purchasing an additional 922 shares during the last quarter. 95.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Bradley M. Robinson bought 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $15.34 per share, for a total transaction of $30,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph Wm Foran bought 8,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $15.05 per share, with a total value of $120,400.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 28,734 shares of company stock valued at $419,588. Corporate insiders own 6.90% of the company’s stock.

NYSE MTDR opened at $16.48 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.75 and a current ratio of 0.81. The firm has a 50-day simple moving average of $15.71 and a 200 day simple moving average of $18.05. Matador Resources Co has a twelve month low of $13.42 and a twelve month high of $34.90. The stock has a market cap of $1.92 billion, a PE ratio of 10.17, a PEG ratio of 0.87 and a beta of 2.00.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. The firm had revenue of $241.70 million during the quarter, compared to analysts’ expectations of $210.42 million. Matador Resources had a net margin of 19.10% and a return on equity of 8.71%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Research analysts forecast that Matador Resources Co will post 1.07 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on MTDR shares. Wells Fargo & Co set a $33.00 price target on Matador Resources and gave the company a “hold” rating in a research report on Thursday, July 11th. Stephens raised Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $22.00 to $24.00 in a research report on Tuesday, July 23rd. ValuEngine raised Matador Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. MKM Partners raised Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. raised Matador Resources from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $28.00 to $26.00 in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Matador Resources presently has a consensus rating of “Buy” and an average target price of $30.46.

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 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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