Zacks Investment Research Downgrades Matador Resources Co. (MTDR) to Hold
Matador Resources Co. (NYSE:MTDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
Several other equities research analysts have also recently weighed in on MTDR. Imperial Capital upped their price target on Matador Resources from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Canaccord Genuity reaffirmed a “hold” rating and issued a $20.00 price target on shares of Matador Resources in a research note on Friday, August 12th. Stifel Nicolaus raised Matador Resources from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, June 29th. They noted that the move was a valuation call. FBR & Co upped their price target on Matador Resources from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Finally, Mizuho assumed coverage on Matador Resources in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.97.
Shares of Matador Resources (NYSE:MTDR) opened at 23.68 on Thursday. The company’s market capitalization is $2.21 billion. The stock’s 50 day moving average price is $22.78 and its 200-day moving average price is $21.68. Matador Resources has a 1-year low of $11.13 and a 1-year high of $28.07.
Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 3rd. The energy company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. Matador Resources had a negative return on equity of 1.92% and a negative net margin of 269.02%. The firm had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $62.61 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was down 42.1% compared to the same quarter last year. On average, equities analysts predict that Matador Resources will post ($0.13) EPS for the current year.
In other Matador Resources news, Director Joe A. Davis bought 8,767 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was purchased at an average price of $22.70 per share, for a total transaction of $199,010.90. Following the completion of the transaction, the director now owns 1,747 shares of the company’s stock, valued at approximately $39,656.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Byerley bought 2,288 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average price of $21.86 per share, with a total value of $50,015.68. Following the transaction, 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 owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC boosted its stake 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 in the last quarter. Wellington Management Group LLP acquired a new stake in Matador Resources during the first quarter valued at about $21,278,000. Arrowgrass Capital Partners US LP acquired a new stake in Matador Resources during the first quarter valued at about $16,221,000. Cannell Peter B & Co. Inc. boosted its stake in Matador Resources by 385.6% in the second quarter. Cannell Peter B & Co. Inc. now owns 805,575 shares of the energy company’s stock valued at $15,950,000 after buying an additional 639,675 shares in the last quarter. Finally, Norges Bank acquired a new stake in Matador Resources during the fourth quarter valued at about $10,240,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.
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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