Matador Resources Co. (NYSE:MTDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $27.00 price target on the energy company’s stock. Zacks Investment Research’s price target would indicate a potential upside of 11.57% from the company’s previous close.

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. “

Other equities research analysts have also recently issued reports about the stock. KLR Group upgraded shares of Matador Resources from a “hold” rating to an “accumulate” rating and set a $25.00 target price for the company in a research report on Wednesday, September 21st. Stifel Nicolaus upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating on shares of Matador Resources in a research report on Thursday, June 23rd. Barclays PLC started coverage on shares of Matador Resources in a research report on Tuesday, June 21st. They issued an “equal weight” rating and a $23.00 target price for the company. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $20.00 target price on shares of Matador Resources in a research report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Matador Resources presently has an average rating of “Buy” and a consensus price target of $25.02.

Analyst Recommendations for Matador Resources (NYSE:MTDR)

Shares of Matador Resources (NYSE:MTDR) opened at 24.20 on Wednesday. The company’s market cap is $2.26 billion. Matador Resources has a 12-month low of $11.13 and a 12-month high of $27.68. The stock has a 50 day moving average of $22.84 and a 200 day moving average of $21.77.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, August 3rd. The energy company reported ($0.01) EPS for the quarter, beating the Zacks’ 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 net margin of 269.02% and a negative return on equity of 1.92%. The company’s quarterly revenue was down 42.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. Analysts forecast that Matador Resources will post ($0.13) earnings per share for the current year.

In other Matador Resources news, 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 price of $22.70 per share, with a total value of $199,010.90. Following the completion of the purchase, the director now owns 1,747 shares in the company, valued at approximately $39,656.90. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 cost of $21.86 per share, with a total value of $50,015.68. Following the purchase, the director now 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 currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MTDR. Prudential Financial Inc. increased its position in shares of Matador Resources by 5.3% in the first quarter. Prudential Financial Inc. now owns 46,369 shares of the energy company’s stock worth $879,000 after buying an additional 2,349 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Matador Resources by 10.3% in the first quarter. Franklin Resources Inc. now owns 3,206,774 shares of the energy company’s stock worth $60,801,000 after buying an additional 299,911 shares in the last quarter. BlackRock Inc. increased its position in shares of 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 in the last quarter. BlackRock Group LTD increased its position in shares of Matador Resources by 25.1% in the first quarter. BlackRock Group LTD now owns 100,386 shares of the energy company’s stock worth $1,902,000 after buying an additional 20,128 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Matador Resources by 5.1% in the first quarter. BlackRock Fund Advisors now owns 1,984,390 shares of the energy company’s stock worth $37,624,000 after buying an additional 95,847 shares in the last quarter. Institutional investors own 80.78% 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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