Royal Bank Of Canada Reiterates “$29.00” Price Target for Matador Resources Company (NYSE:MTDR)
Matador Resources Company (NYSE:MTDR) has been assigned a $29.00 price objective by equities research analysts at Royal Bank Of Canada in a report released on Thursday. The firm currently has a “buy” rating on the energy company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 23.83% from the stock’s previous close.
MTDR has been the topic of a number of other reports. KLR Group upped their price target on shares of Matador Resources from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Scotiabank restated a “buy” rating and issued a $26.00 price target on shares of Matador Resources in a report on Thursday. Northland Securities set a $33.00 price target on shares of Matador Resources and gave the stock a “buy” rating in a report on Monday, July 17th. Credit Suisse Group assumed coverage on shares of Matador Resources in a report on Thursday, June 1st. They issued an “outperform” rating and a $34.00 price target on the stock. Finally, BidaskClub upgraded shares of Matador Resources from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.63.
Matador Resources (MTDR) traded up 7.14% during midday trading on Thursday, hitting $23.42. 2,033,435 shares of the stock traded hands. Matador Resources has a 52-week low of $19.99 and a 52-week high of $28.51. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 12.10 and a beta of 1.20. The firm’s 50-day moving average is $22.31 and its 200-day moving average is $23.57.
Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.11 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.11. The firm had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $112.21 million. Matador Resources had a net margin of 43.04% and a return on equity of 5.45%. The business’s revenue for the quarter was up 65.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. Analysts predict that Matador Resources will post $0.53 EPS for the current year.
In other Matador Resources news, Chairman Joseph Wm Foran sold 11,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.12, for a total transaction of $254,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julia P. Forrester purchased 1,255 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were purchased at an average cost of $23.96 per share, with a total value of $30,069.80. Following the completion of the transaction, the director now owns 3,399 shares of the company’s stock, valued at approximately $81,440.04. The disclosure for this purchase can be found here. Corporate insiders own 11.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MTDR. FNY Partners Fund LP raised its stake in Matador Resources by 66.7% in the first quarter. FNY Partners Fund LP now owns 5,000 shares of the energy company’s stock valued at $118,000 after buying an additional 2,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Matador Resources during the first quarter valued at approximately $120,000. Dubuque Bank & Trust Co. purchased a new stake in Matador Resources during the first quarter valued at approximately $162,000. Parallel Advisors LLC raised its stake in Matador Resources by 10.8% in the first quarter. Parallel Advisors LLC now owns 6,982 shares of the energy company’s stock valued at $153,000 after buying an additional 682 shares during the last quarter. Finally, LS Investment Advisors LLC purchased a new stake in Matador Resources during the second quarter valued at approximately $155,000. 86.57% of the stock is owned by institutional investors and hedge funds.
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 segments include exploration and production, and midstream.
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