KLR Group Upgrades Matador Resources Co. (MTDR) to Accumulate
Matador Resources Co. (NYSE:MTDR) was upgraded by research analysts at KLR Group from a “hold” rating to an “accumulate” rating in a report released on Wednesday.
MTDR has been the topic of several other research reports. FBR & Co lifted their target price on shares of Matador Resources from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Royal Bank Of Canada restated a “buy” rating on shares of Matador Resources in a report on Thursday, June 23rd. Zacks Investment Research lowered shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC assumed coverage on shares of Matador Resources in a report on Tuesday, June 21st. They set an “equal weight” rating and a $23.00 target price on the stock. Finally, Sterne Agee CRT assumed coverage on shares of Matador Resources in a report on Wednesday, June 8th. They set a “buy” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.42.
Matador Resources (NYSE:MTDR) opened at 20.49 on Wednesday. Matador Resources has a one year low of $11.13 and a one year high of $28.25. The stock’s market cap is $1.91 billion. The firm’s 50 day moving average price is $22.56 and its 200 day moving average price is $21.41.
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Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. The business had revenue of $45.20 million for the quarter, compared to analyst estimates of $62.61 million. Matador Resources had a negative net margin of 269.02% and a negative return on equity of 1.92%. The business’s quarterly revenue was down 42.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. Equities analysts forecast that Matador Resources will post ($0.12) earnings per share for the current year.
In other Matador Resources news, Director William M. Byerley acquired 2,288 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average price of $21.86 per share, with a total value of $50,015.68. Following the transaction, the director now directly owns 4,035 shares in the company, valued at $88,205.10. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joe A. Davis acquired 8,767 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average cost of $22.70 per share, with a total value of $199,010.90. Following the transaction, the director now owns 1,747 shares in the company, valued at $39,656.90. The disclosure for this purchase can be found here. Corporate insiders own 12.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Matador Resources by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,063,226 shares of the energy company’s stock worth $120,052,000 after buying an additional 164,563 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Matador Resources by 64.9% in the first quarter. Teachers Advisors Inc. now owns 3,352,496 shares of the energy company’s stock worth $63,563,000 after buying an additional 1,319,393 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Matador Resources by 10.3% in the first quarter. Franklin Resources Inc. now owns 3,206,774 shares of the energy company’s stock worth $60,801,000 after buying an additional 299,911 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Matador Resources by 67.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,064,701 shares of the energy company’s stock worth $58,107,000 after buying an additional 1,237,351 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Matador Resources by 8.6% in the second quarter. State Street Corp now owns 2,796,998 shares of the energy company’s stock worth $55,384,000 after buying an additional 222,027 shares in the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.
About Matador Resources
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.
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