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Matador Resources (NYSE:MTDR) was upgraded by GMP Securities from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $34.00 price objective on the stock, up from their previous price objective of $30.00. GMP Securities’ price objective would indicate a potential upside of 35.40% from the stock’s previous close.

Shares of Matador Resources (NYSE:MTDR) opened at 25.11 on Friday. Matador Resources has a one year low of $15.26 and a one year high of $29.94. The stock has a 50-day moving average of $26.99 and a 200-day moving average of $25.17. The company has a market cap of $1.842 billion and a P/E ratio of 23.14.

Matador Resources (NYSE:MTDR) last released its earnings data on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.04. The company had revenue of $99.10 million for the quarter, compared to the consensus estimate of $90.12 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 70.3% on a year-over-year basis. Analysts expect that Matador Resources will post $1.23 EPS for the current fiscal year.

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $25.23 per share, with a total value of $50,460.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

A number of other firms have also recently commented on MTDR. Analysts at Zacks upgraded shares of Matador Resources from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $27.20 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Matador Resources from $34.00 to $37.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Matador Resources from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 29th. They now have a $32.00 price target on the stock, up previously from $28.00. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.95.

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.

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