Zacks Investment Research lowered shares of Matador Resources Co. (NYSE:MTDR) from a strong-buy rating to a hold rating in a report issued on Tuesday.

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. “

Analyst Recommendations for Matador Resources (NYSE:MTDR)

Several other brokerages have also recently weighed in on MTDR. Sterne Agee CRT initiated coverage on shares of Matador Resources in a research report on Wednesday, June 8th. They issued a buy rating and a $29.00 price target on the stock. Canaccord Genuity restated a hold rating and issued a $20.00 price target on shares of Matador Resources in a research report on Friday, August 12th. Barclays PLC initiated coverage on shares of Matador Resources in a research report on Tuesday, June 21st. They issued an equal weight rating and a $23.00 price target on the stock. Royal Bank Of Canada restated a buy rating on shares of Matador Resources in a research report on Thursday, June 23rd. Finally, Imperial Capital boosted their price target on shares of Matador Resources from $25.00 to $28.00 and gave the stock an outperform rating in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $24.77.

Shares of Matador Resources (NYSE:MTDR) opened at 22.34 on Tuesday. The firm’s 50-day moving average is $22.70 and its 200 day moving average is $21.42. Matador Resources has a 12 month low of $11.13 and a 12 month high of $28.25. The stock’s market cap is $2.08 billion.

Matador Resources (NYSE:MTDR) last issued its quarterly 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 business had revenue of $45.20 million for the quarter, compared to the consensus estimate of $62.61 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was down 42.1% on a year-over-year basis. On average, equities analysts predict that Matador Resources will post ($0.12) EPS for the current year.

In other news, Director Joe A. Davis bought 8,767 shares of Matador Resources stock in a transaction on Thursday, September 1st. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $39,656.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Byerley bought 2,288 shares of Matador Resources stock in a transaction on Monday, August 8th. The stock was purchased at an average price of $21.86 per share, with a total value of $50,015.68. Following the completion of the acquisition, the director now directly owns 4,035 shares of the company’s stock, valued at approximately $88,205.10. The disclosure for this purchase can be found here. 12.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Matador Resources by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,063,226 shares of the energy company’s stock worth $120,052,000 after buying an additional 164,563 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Matador Resources by 64.9% in the first quarter. Teachers Advisors Inc. now owns 3,352,496 shares of the energy company’s stock worth $63,563,000 after buying an additional 1,319,393 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Matador Resources by 10.3% in the first quarter. Franklin Resources Inc. now owns 3,206,774 shares of the energy company’s stock worth $60,801,000 after buying an additional 299,911 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Matador Resources by 67.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,064,701 shares of the energy company’s stock worth $58,107,000 after buying an additional 1,237,351 shares in the last quarter. Finally, State Street Corp increased its position in shares of Matador Resources by 8.6% in the second quarter. State Street Corp now owns 2,796,998 shares of the energy company’s stock worth $55,384,000 after buying an additional 222,027 shares in the last quarter. Institutional investors and hedge funds 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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