Matador Resources Co. (MTDR) Lifted to “Buy” at Zacks Investment Research
Matador Resources Co. (NYSE:MTDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $27.00 price objective on the energy company’s stock. Zacks Investment Research’s target price would indicate a potential upside of 11.57% from the company’s previous close.
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. “
Other research analysts also recently issued research reports about the stock. KLR Group raised shares of Matador Resources from a “hold” rating to an “accumulate” rating and set a $25.00 target price for the company in a research note on Wednesday, September 21st. FBR & Co began coverage on shares of Matador Resources in a research note on Thursday, July 21st. They issued an “outperform” rating and a $28.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating on shares of Matador Resources in a research note on Thursday, June 23rd. Barclays PLC began coverage on shares of Matador Resources in a research note on Tuesday, June 21st. They issued an “equal weight” rating and a $23.00 target price for the company. Finally, Wells Fargo & Co. began coverage on shares of Matador Resources in a research note on Thursday, July 7th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Matador Resources currently has an average rating of “Buy” and an average target price of $25.02.
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Matador Resources (NYSE:MTDR) opened at 24.20 on Wednesday. The company has a 50-day moving average of $22.84 and a 200-day moving average of $21.77. The stock’s market cap is $2.26 billion. Matador Resources has a 52 week low of $11.13 and a 52 week high of $27.68.
Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.09. Matador Resources had a negative net margin of 269.02% and a negative return on equity of 1.92%. The firm earned $45.20 million during the quarter, compared to the consensus estimate of $62.61 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm’s revenue for the quarter was down 42.1% on a year-over-year basis. On average, analysts predict that Matador Resources will post ($0.13) EPS for the current fiscal year.
In related news, Director William M. Byerley purchased 2,288 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was purchased at an average price of $21.86 per share, for a total transaction of $50,015.68. Following the acquisition, the director now directly owns 4,035 shares in the company, valued at $88,205.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joe A. Davis purchased 8,767 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was bought at an average price of $22.70 per share, with a total value of $199,010.90. Following the acquisition, 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.
A number of institutional investors have recently added to or reduced their stakes in MTDR. PNC Financial Services Group Inc. boosted its position in Matador Resources by 12.4% in the second quarter. PNC Financial Services Group Inc. now owns 5,319 shares of the energy company’s stock worth $105,000 after buying an additional 588 shares in the last quarter. Value Holdings LP bought a new position in Matador Resources during the first quarter worth $114,000. First Manhattan Co. boosted its position in Matador Resources by 7.5% in the second quarter. First Manhattan Co. now owns 6,450 shares of the energy company’s stock worth $127,000 after buying an additional 450 shares in the last quarter. BlackRock Inc. boosted its position in Matador Resources by 79.0% in the first quarter. BlackRock Inc. now owns 6,922 shares of the energy company’s stock worth $132,000 after buying an additional 3,055 shares in the last quarter. Finally, Springbank Value Partners LP boosted its position in Matador Resources by 133.3% in the second quarter. Springbank Value Partners LP now owns 7,000 shares of the energy company’s stock worth $139,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors 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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