Retirement Systems of Alabama Raises Stock Position in Matador Resources (NYSE:MTDR)

Retirement Systems of Alabama raised its position in Matador Resources (NYSE:MTDR - Free Report) by 99.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,493 shares of the energy company's stock after buying an additional 140,486 shares during the quarter. Retirement Systems of Alabama owned about 0.23% of Matador Resources worth $15,837,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp bought a new stake in shares of Matador Resources during the 3rd quarter valued at approximately $51,788,000. Copeland Capital Management LLC grew its holdings in shares of Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company's stock valued at $72,223,000 after purchasing an additional 760,122 shares during the last quarter. Yaupon Capital Management LP grew its holdings in Matador Resources by 565.4% during the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company's stock worth $36,770,000 after acquiring an additional 632,218 shares during the last quarter. FMR LLC grew its holdings in Matador Resources by 162.9% during the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after acquiring an additional 296,663 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in Matador Resources during the 3rd quarter worth approximately $10,526,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Price Performance

Shares of MTDR stock traded up $0.12 during trading hours on Tuesday, reaching $59.38. The stock had a trading volume of 950,113 shares, compared to its average volume of 1,029,649. The stock's fifty day simple moving average is $58.22 and its 200 day simple moving average is $55.85. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The firm has a market capitalization of $7.41 billion, a PE ratio of 7.86 and a beta of 3.22.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the firm's stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $55.18 per share, with a total value of $110,360.00. Following the completion of the purchase, the chief executive officer now owns 42,251 shares of the company's stock, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William Thomas Elsener purchased 800 shares of the firm's stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the purchase, the executive vice president now directly owns 102,964 shares of the company's stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,980 shares of company stock worth $165,988. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wolfe Research raised shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Friday, January 3rd. Morgan Stanley assumed coverage on shares of Matador Resources in a research report on Friday, January 10th. They set an "equal weight" rating and a $78.00 target price on the stock. Benchmark reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. KeyCorp lowered their target price on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Truist Financial increased their target price on shares of Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $75.14.

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.