OLD National Bancorp IN Buys New Holdings in Matador Resources (NYSE:MTDR)

OLD National Bancorp IN purchased a new position in shares of Matador Resources (NYSE:MTDR) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,286 shares of the energy company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its position in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares in the last quarter. True Wealth Design LLC bought a new position in Matador Resources during the third quarter worth about $37,000. Denver PWM LLC boosted its holdings in Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after purchasing an additional 303 shares in the last quarter. Quarry LP grew its stake in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in shares of Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Down 2.6 %

NYSE MTDR opened at $57.98 on Monday. The stock has a market capitalization of $7.23 billion, a P/E ratio of 7.68 and a beta of 3.24. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The stock has a fifty day moving average of $58.42 and a 200-day moving average of $56.07.

Analyst Ratings Changes

Several brokerages recently commented on MTDR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Mizuho lowered their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a report on Friday, January 17th. Stephens upped their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Morgan Stanley assumed coverage on shares of Matador Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.14.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated 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 transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William Thomas Elsener acquired 800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,980 shares of company stock worth $165,988 over the last 90 days. Insiders own 6.10% of the company’s stock.

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.