Matador Resources Co. (NYSE:MTDR) Receives $24.96 Average Price Target from Brokerages
Shares of Matador Resources Co. (NYSE:MTDR) have been given an average recommendation of “Buy” by the twenty-two research firms that are covering the company. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $24.96.
A number of brokerages recently commented on MTDR. FBR & Co lifted their price objective on 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 reiterated a “buy” rating on shares of Matador Resources in a research report on Thursday, June 23rd. KLR Group upgraded 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. Zacks Investment Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Finally, Barclays PLC assumed coverage on Matador Resources in a research report on Tuesday, June 21st. They issued an “equal weight” rating and a $23.00 price objective for the company.
Matador Resources (NYSE:MTDR) opened at 23.03 on Monday. The firm’s 50-day moving average is $22.67 and its 200-day moving average is $21.50. The firm’s market cap is $2.15 billion. Matador Resources has a 12 month low of $11.13 and a 12 month high of $28.25.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, August 3rd. The energy company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The firm earned $45.20 million during the quarter, compared to analyst estimates 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 revenue was down 42.1% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. Equities analysts expect that Matador Resources will post ($0.12) earnings per share for the current year.
In related news, Director Joe A. Davis purchased 8,767 shares of the stock in a transaction on Thursday, September 1st. The shares were purchased at an average price of $22.70 per share, with a total value of $199,010.90. Following the transaction, the director now directly owns 1,747 shares of the company’s stock, valued at $39,656.90. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William M. Byerley purchased 2,288 shares of the stock in a transaction on Monday, August 8th. The shares were bought at an average cost of $21.86 per share, for a total transaction of $50,015.68. Following the transaction, the director now directly owns 4,035 shares in the company, valued at $88,205.10. The disclosure for this purchase can be found here. 12.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Matador Resources by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,063,226 shares of the energy company’s stock valued at $120,052,000 after buying an additional 164,563 shares during the period. Teachers Advisors Inc. raised its position in Matador Resources by 64.9% in the first quarter. Teachers Advisors Inc. now owns 3,352,496 shares of the energy company’s stock valued at $63,563,000 after buying an additional 1,319,393 shares during the period. Franklin Resources Inc. raised its position in Matador Resources by 10.3% in the first quarter. Franklin Resources Inc. now owns 3,206,774 shares of the energy company’s stock valued at $60,801,000 after buying an additional 299,911 shares during the period. TIAA CREF Investment Management LLC raised its position in 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 valued at $58,107,000 after buying an additional 1,237,351 shares during the period. Finally, State Street Corp raised its position in Matador Resources by 8.6% in the second quarter. State Street Corp now owns 2,796,998 shares of the energy company’s stock valued at $55,384,000 after buying an additional 222,027 shares during the period. 80.78% of the stock is currently owned by hedge funds and other institutional investors.
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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