Matador Resources Company (NYSE:MTDR) Given a $26.00 Price Target by BMO Capital Markets Analysts
Matador Resources Company (NYSE:MTDR) received a $26.00 target price from equities researchers at BMO Capital Markets in a research report issued on Saturday. The firm presently has a “buy” rating on the energy company’s stock. BMO Capital Markets’ target price suggests a potential upside of 7.22% from the company’s previous close.
Several other equities research analysts have also commented on the company. Credit Suisse Group initiated coverage on Matador Resources in a research note on Thursday, June 1st. They set an “outperform” rating and a $34.00 price objective for the company. Zacks Investment Research lowered Matador Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. KLR Group boosted their price objective on Matador Resources from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, May 10th. BidaskClub upgraded Matador Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Imperial Capital initiated coverage on Matador Resources in a research note on Tuesday, July 18th. They set an “outperform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.80.
Shares of Matador Resources (NYSE MTDR) opened at 24.25 on Friday. The firm has a 50-day moving average price of $22.72 and a 200-day moving average price of $23.53. Matador Resources has a 12 month low of $19.99 and a 12 month high of $28.51. The stock has a market cap of $2.44 billion, a PE ratio of 12.53 and a beta of 1.20.
Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $112.21 million. Matador Resources had a return on equity of 5.45% and a net margin of 43.04%. Matador Resources’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. Equities analysts forecast that Matador Resources will post $0.47 EPS for the current year.
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In related news, Chairman Joseph Wm Foran sold 11,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $23.12, for a total value of $254,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Posner acquired 4,115 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $24.10 per share, with a total value of $99,171.50. Following the completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $151,203.40. The disclosure for this purchase can be found here. Corporate insiders own 11.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in Matador Resources during the fourth quarter worth approximately $3,187,000. Oppenheimer & Co. Inc. purchased a new position in Matador Resources during the first quarter worth approximately $1,070,000. First National Bank of Omaha boosted its position in Matador Resources by 33.5% in the first quarter. First National Bank of Omaha now owns 43,186 shares of the energy company’s stock worth $1,027,000 after buying an additional 10,835 shares during the period. Columbus Circle Investors purchased a new position in Matador Resources during the first quarter worth approximately $4,208,000. Finally, Bank of America Corp DE boosted its position in Matador Resources by 110.0% in the first quarter. Bank of America Corp DE now owns 507,269 shares of the energy company’s stock worth $12,068,000 after buying an additional 265,715 shares during the period. Institutional investors own 86.56% 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 segments include exploration and production, and midstream.
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