Matador Resources Co. (MTDR) Upgraded to Accumulate by KLR Group
Matador Resources Co. (NYSE:MTDR) was upgraded by analysts at KLR Group from a “hold” rating to an “accumulate” rating in a report issued on Wednesday, The Fly reports.
Several other research analysts also recently commented on MTDR. Imperial Capital raised their price objective on Matador Resources from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Matador Resources from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, July 6th. Canaccord Genuity restated a “hold” rating and set a $20.00 price objective on shares of Matador Resources in a report on Friday, August 12th. Stifel Nicolaus upgraded Matador Resources from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, June 29th. They noted that the move was a valuation call. Finally, FBR & Co increased their target price on Matador Resources from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average 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 1-year low of $11.13 and a 1-year high of $28.25. The stock’s market cap is $1.91 billion. The stock has a 50 day moving average price of $22.56 and a 200 day moving average price of $21.41.
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Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, August 3rd. The energy company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $45.20 million for the quarter, compared to the consensus estimate of $62.61 million. Matador Resources had a negative return on equity of 1.92% and a negative net margin of 269.02%. Matador Resources’s quarterly revenue was down 42.1% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. On average, analysts predict that Matador Resources will post ($0.12) EPS for the current fiscal year.
In related news, Director Joe A. Davis acquired 8,767 shares of Matador Resources stock in a transaction on Thursday, September 1st. The stock was acquired at an average price of $22.70 per share, for a total transaction of $199,010.90. Following the purchase, the director now owns 1,747 shares of the company’s stock, valued at approximately $39,656.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William M. Byerley acquired 2,288 shares of Matador Resources stock in a transaction on Monday, August 8th. The shares were bought at an average price of $21.86 per share, with a total value of $50,015.68. Following the purchase, the director now directly owns 4,035 shares in the company, valued at approximately $88,205.10. The disclosure for this purchase can be found here. Company insiders own 12.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Matador Resources by 41.5% in the first quarter. Legal & General Group Plc now owns 19,629 shares of the energy company’s stock worth $370,000 after buying an additional 5,759 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Matador Resources by 3.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,771,687 shares of the energy company’s stock valued at $33,592,000 after buying an additional 62,354 shares in the last quarter. Princeton Alpha Management LP acquired a new position in shares of Matador Resources during the second quarter valued at $370,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Matador Resources by 7.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,141,851 shares of the energy company’s stock valued at $40,609,000 after buying an additional 148,663 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Matador Resources by 5.3% in the first quarter. Prudential Financial Inc. now owns 46,369 shares of the energy company’s stock valued at $879,000 after buying an additional 2,349 shares in the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.
Matador Resources Company Profile
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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