Matador Resources PT Raised to $20.00 (MTDR)
Equities researchers at Stifel Nicolaus lifted their price objective on shares of Matador Resources (NASDAQ:MTDR) from $15.00 to $20.00 in a research report issued on Friday, AR Network reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 20.70% from the company’s current price.
The analysts wrote, “We are raising our NAV estimate to $20/share from $16 and our target price to $20 from $15 based on an incrementally more positive view on Matador’s Permian Basin properties where the company holds 32,899 net acres. Our NAV estimate now includes $3/share or approximately $18,000/acre for the Wolf prospect in Loving County, Texas and $1/share for the Ranger prospect in Lea County, New Mexico. While Matador has yet to report production results from its first Permian wells, the vast majority of the company’s acreage in the basin has been de-risked by competitors.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil raised their price target on shares of Matador Resources (NASDAQ:MTDR) from $13.00 to $21.00 in a research note to investors on Thursday, August 29th. They now have a “sector outperform” rating on the stock. Separately, analysts at SunTrust raised their price target on shares of Matador Resources (NASDAQ:MTDR) from $15.00 to $20.00 in a research note to investors on Monday, August 12th. They now have a “buy” rating on the stock. Finally, analysts at Imperial Capital raised their price target on shares of Matador Resources (NASDAQ:MTDR) from $13.00 to $14.00 in a research note to investors on Monday, August 12th.
Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $17.41.
Matador Resources (NASDAQ:MTDR) traded up 1.15% on Friday, hitting $16.76. 217,329 shares of the company’s stock traded hands. Matador Resources has a 1-year low of $7.58 and a 1-year high of $17.89. The stock has a 50-day moving average of $16.10 and a 200-day moving average of $11.62. The company’s market cap is $935.9 million.
In other Matador Resources news, CEO Joseph Wm Foran acquired 15,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $15.25 per share, for a total transaction of $228,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Matador Resources Company is an energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with a particular focus on oil and natural gas shale plays and other unconventional resource plays.
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