Merit Financial Group LLC Invests $251,000 in Matador Resources (NYSE:MTDR)

Merit Financial Group LLC acquired a new position in shares of Matador Resources (NYSE:MTDR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,463 shares of the energy company's stock, valued at approximately $251,000.

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

Insider Transactions at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the acquisition, the executive vice president now owns 102,964 shares of the company's stock, valued at $5,827,762.40. This represents a 0.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, December 6th. The shares were acquired at an average cost of $55.18 per share, for a total transaction 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. This represents a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,285 shares of company stock valued at $232,849 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th. 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 note on Monday, December 16th. Benchmark reaffirmed a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research note on Friday, January 17th. KeyCorp decreased their price target on Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.14.

Matador Resources Price Performance

Shares of MTDR traded down $1.13 during mid-day trading on Friday, hitting $61.07. The company's stock had a trading volume of 1,111,006 shares, compared to its average volume of 869,229. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The firm has a 50-day moving average price of $58.41 and a 200 day moving average price of $56.25. 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 $7.62 billion, a price-to-earnings ratio of 8.09 and a beta of 3.24.

Matador Resources Company 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.