Matador Resources Co. (MTDR) Stock Rating Upgraded by KLR Group
Matador Resources Co. (NYSE:MTDR) was upgraded by analysts at KLR Group from a “hold” rating to an “accumulate” rating in a note issued to investors on Wednesday. The firm currently has a $25.00 price target on the energy company’s stock. KLR Group’s price objective points to a potential upside of 11.91% from the stock’s previous close.
MTDR has been the subject of several other reports. FBR & Co raised their price target on Matador Resources from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Royal Bank Of Canada reissued a “buy” rating on shares of Matador Resources in a report on Thursday, June 23rd. Zacks Investment Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC began coverage on Matador Resources in a report on Tuesday, June 21st. They issued an “equal weight” rating and a $23.00 price target for the company. Finally, Sterne Agee CRT began coverage on Matador Resources in a report on Wednesday, June 8th. They issued a “buy” rating and a $29.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Matador Resources currently has a consensus rating of “Buy” and a consensus target price of $24.77.
Matador Resources (NYSE:MTDR) opened at 22.34 on Wednesday. The firm has a 50-day moving average price of $22.70 and a 200-day moving average price of $21.42. The firm’s market capitalization is $2.08 billion. Matador Resources has a one year low of $11.13 and a one year high of $28.25.
Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 3rd. The energy company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business 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% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Equities analysts anticipate that Matador Resources will post ($0.12) earnings per share for the current year.
In other Matador Resources news, Director William M. Byerley acquired 2,288 shares of the stock in a transaction dated Monday, August 8th. The stock was acquired at an average price of $21.86 per share, with a total value of $50,015.68. Following the completion of 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 SEC, which is accessible through the SEC website. Also, Director Joe A. Davis acquired 8,767 shares of the stock in a transaction dated Thursday, September 1st. The stock was acquired at an average cost of $22.70 per share, with a total value of $199,010.90. Following the transaction, the director now owns 1,747 shares of the company’s stock, valued at $39,656.90. The disclosure for this purchase can be found here. 12.70% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in 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 during the period. Value Holdings LP purchased a new stake in Matador Resources during the first quarter worth about $114,000. First Manhattan Co. increased its stake in 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 during the period. BlackRock Inc. increased its stake in 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 during the period. Finally, Springbank Value Partners LP increased its stake in 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 during the period. 80.78% of the stock is owned by hedge funds and other institutional investors.
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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