Zacks Investment Research upgraded shares of Matador Resources Co. (NYSE:MTDR) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $27.00 price objective on the energy company’s stock.
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. “
MTDR has been the subject of a number of other research reports. Mizuho assumed coverage on Matador Resources in a report on Wednesday, October 5th. They set a neutral rating and a $25.00 price objective for the company. 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. Barclays PLC assumed coverage on Matador Resources in a report on Tuesday, June 21st. They set an equal weight rating and a $23.00 price objective for the company. Royal Bank Of Canada restated a buy rating on shares of Matador Resources in a report on Thursday, June 23rd. Finally, Imperial Capital boosted their price objective on Matador Resources from $25.00 to $28.00 and gave the company an outperform rating in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $25.02.
Shares of Matador Resources (NYSE:MTDR) opened at 23.88 on Wednesday. The company has a 50-day moving average price of $22.87 and a 200-day moving average price of $21.78. The company’s market capitalization is $2.23 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) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The firm earned $45.20 million during the quarter, compared to analysts’ expectations of $62.61 million. Matador Resources had a negative return on equity of 1.92% and a negative net margin of 269.02%. The company’s quarterly revenue was down 42.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. Analysts predict that Matador Resources will post ($0.13) earnings per share for the current year.
In other Matador Resources news, Director William M. Byerley bought 2,288 shares of Matador Resources stock in a transaction that occurred on Monday, August 8th. The shares were bought at an average cost of $21.86 per share, with a total value of $50,015.68. Following the transaction, the director now directly 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 can be accessed through the SEC website. Also, Director Joe A. Davis bought 8,767 shares of Matador Resources stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average cost of $22.70 per share, for a total transaction of $199,010.90. Following the completion of the transaction, the director now directly 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 hedge funds and other institutional investors have recently made changes to their positions in MTDR. PNC Financial Services Group Inc. raised its position in shares of 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 valued at $105,000 after buying an additional 588 shares in the last quarter. Value Holdings LP acquired a new position in shares of Matador Resources during the first quarter valued at about $114,000. First Manhattan Co. raised its position in shares of Matador Resources by 7.5% in the second quarter. First Manhattan Co. now owns 6,450 shares of the energy company’s stock valued at $127,000 after buying an additional 450 shares in the last quarter. BlackRock Inc. raised its position in shares of Matador Resources by 79.0% in the first quarter. BlackRock Inc. now owns 6,922 shares of the energy company’s stock valued at $132,000 after buying an additional 3,055 shares in the last quarter. Finally, Springbank Value Partners LP raised its position in shares of Matador Resources by 133.3% in the second quarter. Springbank Value Partners LP now owns 7,000 shares of the energy company’s stock valued at $139,000 after buying an additional 4,000 shares in the last quarter. 80.78% of the stock is currently owned by 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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