Zacks Investment Research Lowers Matador Resources Co. (MTDR) to Hold
Matador Resources Co. (NYSE:MTDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Matador Resources Company is an energy company engaged in the exploration, development and acquisition of oil and natural gas resources in the United States. It focuses on oil and natural gas shale plays and other unconventional resource plays. Matador has operations primarily in Texas and Louisiana. The Company has acreage positions in west Texas, New Mexico, Wyoming, Utah and Idaho. Matador Resources Company is headquartered in Dallas, Texas. “
Several other research firms also recently weighed in on MTDR. Stifel Nicolaus raised shares of Matador Resources from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Wells Fargo & Co. started coverage on shares of Matador Resources in a research report on Thursday, July 7th. They set an “outperform” rating on the stock. Imperial Capital boosted their target price on shares of Matador Resources from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Canaccord Genuity reissued a “hold” rating and set a $20.00 target price on shares of Matador Resources in a research report on Friday, August 12th. Finally, Sterne Agee CRT initiated coverage on shares of Matador Resources in a research 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, nine have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $24.97.
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Matador Resources (NYSE:MTDR) traded down 1.09% during trading on Thursday, reaching $23.68. 1,477,868 shares of the company were exchanged. The company’s 50-day moving average price is $22.78 and its 200-day moving average price is $21.68. Matador Resources has a 1-year low of $11.13 and a 1-year high of $28.07. The stock’s market capitalization is $2.21 billion.
Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share 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 net margin of 269.02% and a negative return on equity of 1.92%. Matador Resources’s revenue was down 42.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, equities analysts forecast that Matador Resources will post ($0.13) EPS for the current year.
In other news, Director William M. Byerley acquired 2,288 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average price of $21.86 per share, with a total value of $50,015.68. Following the completion of the acquisition, the director now owns 4,035 shares of the company’s stock, valued at approximately $88,205.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joe A. Davis acquired 8,767 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was purchased at an average cost of $22.70 per share, with a total value of $199,010.90. Following the acquisition, the director now directly owns 1,747 shares of the company’s stock, valued at approximately $39,656.90. The disclosure for this purchase can be found here. 12.70% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC raised 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. Wellington Management Group LLP purchased a new stake in shares of Matador Resources during the first quarter worth about $21,278,000. Arrowgrass Capital Partners US LP purchased a new stake in shares of Matador Resources during the first quarter worth about $16,221,000. Cannell Peter B & Co. Inc. raised its stake in shares of Matador Resources by 385.6% in the second quarter. Cannell Peter B & Co. Inc. now owns 805,575 shares of the energy company’s stock worth $15,950,000 after buying an additional 639,675 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Matador Resources during the fourth quarter worth about $10,240,000. 80.78% of the stock is owned by hedge funds and other institutional investors.
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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