Todays Report: The Matador Resources Co. (MTDR) Rating Increased to Buy at Zacks Investment Research

The Matador Resources Co. (MTDR) Rating Increased 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 report issued to clients and investors on Wednesday. The brokerage currently has a $27.00 price objective on the energy company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 14.07% 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. “

MTDR has been the subject of several other research reports. FBR & Co upped their price objective on shares of Matador Resources from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Matador Resources in a research report on Thursday, June 23rd. KLR Group raised shares of Matador Resources from a “hold” rating to an “accumulate” rating and set a $25.00 price objective for the company in a research report on Wednesday, September 21st. Barclays PLC began coverage on shares of Matador Resources in a research report on Tuesday, June 21st. They set an “equal weight” rating and a $23.00 price objective for the company. Finally, Mizuho began coverage on shares of Matador Resources in a research report on Wednesday, October 5th. They set a “neutral” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.02.

Shares of Matador Resources (NYSE:MTDR) opened at 23.67 on Wednesday. The firm’s market cap is $2.21 billion. Matador Resources has a 52-week low of $11.13 and a 52-week high of $27.68. The firm has a 50-day moving average of $22.88 and a 200 day moving average of $21.79.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ 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 business earned $45.20 million during the quarter, compared to analysts’ expectations of $62.61 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. Matador Resources’s revenue was down 42.1% compared to the same quarter last year. On average, equities analysts predict that Matador Resources will post ($0.13) earnings per share for the current year.

In related news, Director William M. Byerley acquired 2,288 shares of Matador Resources stock in a transaction dated Monday, August 8th. The stock was bought at an average price of $21.86 per share, with a total value of $50,015.68. Following the transaction, the director now directly owns 4,035 shares in the company, valued at approximately $88,205.10. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joe A. Davis bought 8,767 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was purchased at an average price of $22.70 per share, for a total transaction of $199,010.90. Following the completion of 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. Insiders own 12.70% of the company’s stock.

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted 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 worth $105,000 after buying an additional 588 shares in the last quarter. Value Holdings LP purchased a new position in shares of Matador Resources during the first quarter worth about $114,000. First Manhattan Co. boosted 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 worth $127,000 after buying an additional 450 shares in the last quarter. BlackRock Inc. boosted 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 worth $132,000 after buying an additional 3,055 shares in the last quarter. Finally, Springbank Value Partners LP boosted 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 worth $139,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.

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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