Rainier Investment Management LLC Invests $6,857,000 in Matador Resources Company (MTDR)

Rainier Investment Management LLC bought a new position in Matador Resources Company (NYSE:MTDR) during the third quarter, Holdings Channel reports. The institutional investor bought 281,720 shares of the energy company’s stock, valued at approximately $6,857,000.

Several other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Matador Resources Company by 118.0% in the third quarter. Wells Fargo & Company MN now owns 974,181 shares of the energy company’s stock valued at $23,712,000 after buying an additional 527,394 shares during the period. Lombardia Capital Partners LLC purchased a new position in Matador Resources Company during the third quarter valued at $11,597,000. BlackRock Advisors LLC increased its position in Matador Resources Company by 140.5% in the third quarter. BlackRock Advisors LLC now owns 654,508 shares of the energy company’s stock valued at $15,931,000 after buying an additional 382,347 shares during the period. Fiera Capital Corp purchased a new position in Matador Resources Company during the second quarter valued at $7,130,000. Finally, Victory Capital Management Inc. increased its position in Matador Resources Company by 28.6% in the third quarter. Victory Capital Management Inc. now owns 1,347,311 shares of the energy company’s stock valued at $32,793,000 after buying an additional 299,889 shares during the period. Institutional investors and hedge funds own 79.07% of the company’s stock.

Institutional Ownership by Quarter for Matador Resources Company (NYSE:MTDR)

Matador Resources Company (NYSE:MTDR) opened at 27.26 on Friday. The firm’s market capitalization is $2.55 billion. Matador Resources Company has a 1-year low of $14.02 and a 1-year high of $28.51. The company’s 50-day moving average is $26.04 and its 200 day moving average is $23.92.

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MTDR has been the topic of a number of research analyst reports. KLR Group downgraded shares of Matador Resources Company from an “accumulate” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Monday, November 28th. FBR & Co set a $30.00 price objective on shares of Matador Resources Company and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Zacks Investment Research raised shares of Matador Resources Company from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Saturday, November 5th. Raymond James Financial, Inc. initiated coverage on shares of Matador Resources Company in a research report on Monday, January 23rd. They set an “outperform” rating and a $31.00 price objective on the stock. Finally, Barclays PLC boosted their price objective on shares of Matador Resources Company from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, January 26th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.20.

In other news, Director William M. Byerley bought 1,919 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The stock was acquired at an average cost of $26.05 per share, with a total value of $49,989.95. Following the completion of the purchase, the director now owns 7,422 shares of the company’s stock, valued at $193,343.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Laney bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The stock was purchased at an average cost of $26.45 per share, with a total value of $264,500.00. Following the completion of the purchase, the director now directly owns 417,053 shares of the company’s stock, valued at approximately $11,031,051.85. The disclosure for this purchase can be found here. 12.70% of the stock is owned by company insiders.

About Matador Resources Company

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s segment is oil and natural gas exploration and production.

5 Day Chart for NYSE:MTDR

Want to see what other hedge funds are holding MTDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matador Resources Company (NYSE:MTDR).

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