Matador Resources Co. (MTDR) Cut to Hold at KLR Group
KLR Group lowered shares of Matador Resources Co. (NYSE:MTDR) from an accumulate rating to a hold rating in a report released on Monday morning. The firm currently has $25.00 target price on the energy company’s stock.
Several other research firms have also weighed in on MTDR. Zacks Investment Research raised Matador Resources from a hold rating to a buy rating and set a $23.00 price target on the stock in a research report on Saturday, November 5th. Deutsche Bank AG assumed coverage on Matador Resources in a report on Monday. They set a hold rating and a $25.68 target price on the stock. Imperial Capital boosted their target price on Matador Resources from $25.00 to $28.00 and gave the stock an outperform rating in a report on Monday, August 8th. Canaccord Genuity reissued a hold rating and set a $20.00 target price on shares of Matador Resources in a report on Friday, August 12th. Finally, FBR & Co set a $30.00 target price on Matador Resources and gave the stock a buy rating in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $24.10.
Matador Resources (NYSE:MTDR) opened at 26.64 on Monday. The firm’s market capitalization is $2.49 billion. Matador Resources has a 1-year low of $11.13 and a 1-year high of $27.30. The firm’s 50-day moving average price is $23.35 and its 200 day moving average price is $22.45.
Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, November 1st. The energy company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.07. The firm had revenue of $88.70 million for the quarter, compared to analyst estimates of $78.07 million. Matador Resources had a negative return on equity of 1.60% and a negative net margin of 176.09%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, analysts predict that Matador Resources will post ($0.05) EPS for the current year.
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Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased 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 in the last quarter. 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 during the last quarter. 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 during the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Matador Resources during the second quarter worth about $144,000. Finally, Seven Eight Capital LLC purchased a new position in shares of Matador Resources during the second quarter worth about $145,000. Institutional investors and hedge funds own 84.46% 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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