KLR Group Lowers Matador Resources Co. (MTDR) to Hold
Matador Resources Co. (NYSE:MTDR) was downgraded by investment analysts at KLR Group from an “accumulate” rating to a “hold” rating in a research note issued to investors on Monday.
MTDR has been the topic of several other reports. Zacks Investment Research raised Matador Resources from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Saturday, November 5th. Deutsche Bank AG began coverage on Matador Resources in a research report on Monday. They set a “hold” rating and a $28.00 price objective on the stock. Imperial Capital increased their price objective on Matador Resources from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Canaccord Genuity reaffirmed a “hold” rating and set a $20.00 price objective on shares of Matador Resources in a research report on Friday, August 12th. Finally, FBR & Co set a $30.00 price objective on Matador Resources and gave the company a “buy” rating in a research report on Wednesday, November 2nd. One investment 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. The company presently has an average rating of “Buy” and an average target price of $24.22.
Shares of Matador Resources (NYSE:MTDR) traded down 2.44% during midday trading on Monday, hitting $24.79. The stock had a trading volume of 152,880 shares. The stock’s 50 day moving average price is $23.39 and its 200 day moving average price is $22.40. Matador Resources has a 12 month low of $11.13 and a 12 month high of $26.14. The firm’s market cap is $2.32 billion.
Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, November 1st. The energy company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. Matador Resources had a negative return on equity of 1.60% and a negative net margin of 176.09%. The firm had revenue of $88.70 million for the quarter, compared to analysts’ expectations of $78.07 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities analysts forecast that Matador Resources will post ($0.05) EPS for the current fiscal year.
In other news, Director Joe A. Davis acquired 8,767 shares of Matador Resources stock in a transaction on Thursday, September 1st. The shares were acquired at an average price of $22.70 per share, with a total value of $199,010.90. Following the purchase, the director now directly owns 1,747 shares in the company, valued at approximately $39,656.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.70% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position 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 worth $105,000 after buying an additional 588 shares during the period. 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 period. 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 period. BNP Paribas Arbitrage SA bought a new position in shares of Matador Resources during the second quarter worth approximately $144,000. Finally, Seven Eight Capital LLC bought a new position in shares of Matador Resources during the second quarter worth approximately $145,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.
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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