Zacks Investment Research upgraded shares of Matador Resources Company (NYSE:MTDR) from a sell rating to a hold rating in a report released on Tuesday morning.

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. “

MTDR has been the subject of a number of other reports. KLR Group raised their price target on Matador Resources from $24.00 to $25.00 and gave the stock a hold rating in a research report on Wednesday, May 10th. Scotiabank restated a buy rating and issued a $26.00 price target on shares of Matador Resources in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a buy rating and issued a $34.00 price target on shares of Matador Resources in a research report on Friday, June 16th. Northland Securities set a $33.00 price target on Matador Resources and gave the stock a buy rating in a research report on Monday, July 17th. Finally, Credit Suisse Group began coverage on Matador Resources in a research report on Thursday, June 1st. They issued an outperform rating and a $34.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $28.80.

Shares of Matador Resources (NYSE:MTDR) opened at 23.24 on Tuesday. Matador Resources has a one year low of $19.99 and a one year high of $28.51. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 12.01 and a beta of 1.20. The stock has a 50 day moving average of $23.12 and a 200-day moving average of $23.42.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $115.90 million during the quarter, compared to the consensus estimate of $112.21 million. Matador Resources had a return on equity of 5.45% and a net margin of 43.04%. Matador Resources’s revenue was up 65.1% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. On average, equities analysts expect that Matador Resources will post $0.48 earnings per share for the current year.

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In related news, Chairman Joseph Wm Foran sold 11,000 shares of Matador Resources stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $23.12, for a total value of $254,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julia P. Forrester acquired 1,255 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was purchased at an average price of $23.96 per share, with a total value of $30,069.80. Following the completion of the acquisition, the director now directly owns 3,399 shares of the company’s stock, valued at $81,440.04. The disclosure for this purchase can be found here. Insiders own 11.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. FNY Partners Fund LP increased its stake in Matador Resources by 66.7% in the first quarter. FNY Partners Fund LP now owns 5,000 shares of the energy company’s stock valued at $118,000 after buying an additional 2,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Matador Resources during the first quarter valued at about $120,000. Dubuque Bank & Trust Co. raised its position in Matador Resources by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 7,099 shares of the energy company’s stock valued at $152,000 after buying an additional 275 shares during the period. Parallel Advisors LLC raised its position in Matador Resources by 10.8% in the first quarter. Parallel Advisors LLC now owns 6,982 shares of the energy company’s stock valued at $153,000 after buying an additional 682 shares during the period. Finally, LS Investment Advisors LLC bought a new position in Matador Resources during the second quarter valued at about $155,000. Hedge funds and other institutional investors own 89.02% 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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Analyst Recommendations for Matador Resources (NYSE:MTDR)

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