Matador Resources (NYSE:MTDR) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its stake in Matador Resources (NYSE:MTDR - Free Report) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,751 shares of the energy company's stock after selling 15,828 shares during the period. Griffin Asset Management Inc.'s holdings in Matador Resources were worth $3,249,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MTDR. MassMutual Private Wealth & Trust FSB raised its stake in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after purchasing an additional 207 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Matador Resources in the 3rd quarter worth $37,000. Denver PWM LLC boosted its holdings in shares of Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company's stock valued at $37,000 after acquiring an additional 303 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company's stock worth $41,000 after acquiring an additional 635 shares during the period. Finally, Quarry LP raised its holdings in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company's stock worth $46,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Insider Activity

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the transaction, the chief executive officer now owns 42,251 shares of the company's stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the firm's stock in a transaction on Friday, December 13th. The stock was bought at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,980 shares of company stock valued at $165,988 over the last 90 days. Insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

MTDR has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. KeyCorp dropped their price objective on Matador Resources from $76.00 to $72.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. TD Cowen raised their target price on Matador Resources from $74.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and a consensus price target of $75.14.

Matador Resources Price Performance

Shares of MTDR traded down $1.58 during trading hours on Friday, reaching $57.96. 488,093 shares of the company traded hands, compared to its average volume of 1,078,652. The stock has a fifty day simple moving average of $58.48 and a 200 day simple moving average of $56.24. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock has a market capitalization of $7.23 billion, a PE ratio of 7.68 and a beta of 3.24. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

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.