Matador Resources Co. (NYSE:MTDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $26.00 target price on the energy company’s stock. Zacks Investment Research’s price target points to a potential upside of 13.09% from the stock’s current price.
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. “
A number of other analysts also recently weighed in on the company. KLR Group upgraded Matador Resources from a “hold” rating to an “accumulate” rating and set a $25.00 target price for the company in a research report on Wednesday, September 21st. Canaccord Genuity reiterated a “hold” rating and set a $20.00 target price on shares of Matador Resources in a research report on Friday, August 12th. Imperial Capital upped their target price on Matador Resources from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. FBR & Co upped 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. Finally, Wells Fargo & Co. assumed coverage on Matador Resources in a research report on Thursday, July 7th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.97.
Matador Resources (NYSE:MTDR) opened at 22.99 on Wednesday. Matador Resources has a 12-month low of $11.13 and a 12-month high of $28.25. The company has a 50-day moving average price of $22.76 and a 200 day moving average price of $21.62. The company’s market cap is $2.15 billion.
Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. The business earned $45.20 million during 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%. The firm’s quarterly revenue was down 42.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, analysts forecast that Matador Resources will post ($0.12) EPS for the current fiscal year.
In other Matador Resources news, Director William M. Byerley bought 2,288 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were bought at an average price of $21.86 per share, for a total transaction of $50,015.68. Following the transaction, the director now directly owns 4,035 shares in the company, valued at $88,205.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joe A. Davis bought 8,767 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average price of $22.70 per share, for a total transaction of $199,010.90. Following the transaction, the director now owns 1,747 shares in the company, valued at $39,656.90. The disclosure for this purchase can be found here. 12.70% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake 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 during the last quarter. Value Holdings LP acquired a new stake in shares of Matador Resources during the first quarter valued at approximately $114,000. First Manhattan Co. raised its stake 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 during the last quarter. BlackRock Inc. raised its stake 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 during the last quarter. Finally, Springbank Value Partners LP raised its stake 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 during the last quarter. 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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