Matador Resources Company (MTDR) Lifted to “Buy” at BidaskClub
Matador Resources Company (NYSE:MTDR) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
MTDR has been the subject of several other research reports. Credit Suisse Group initiated coverage on shares of Matador Resources in a research report on Thursday, June 1st. They set an “outperform” rating and a $34.00 price objective for the company. BMO Capital Markets set a $23.00 price objective on shares of Matador Resources and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research downgraded shares of Matador Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Northland Securities set a $33.00 price objective on shares of Matador Resources and gave the stock a “buy” rating in a research report on Monday, August 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price objective on shares of Matador Resources in a research report on Thursday, September 7th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.63.
Shares of Matador Resources (NYSE:MTDR) traded down 0.6363% on Friday, reaching $25.5166. 351,137 shares of the company’s stock were exchanged. Matador Resources has a 52-week low of $19.99 and a 52-week high of $28.51. The company’s 50 day moving average price is $23.63 and its 200-day moving average price is $23.00. The stock has a market cap of $2.56 billion, a P/E ratio of 13.1869 and a beta of 1.23.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.11 EPS for the quarter, hitting the consensus estimate 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 net margin of 43.04% and a return on equity of 5.45%. The company’s quarterly revenue was up 65.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. Equities analysts forecast that Matador Resources will post $0.49 EPS for the current fiscal year.
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In related news, Director David M. Posner acquired 4,115 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $24.10 per share, for a total transaction of $99,171.50. Following the purchase, the director now owns 6,274 shares in the company, valued at $151,203.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 11.90% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new position in Matador Resources during the 1st quarter valued at $1,070,000. Bank of America Corp DE lifted its stake in Matador Resources by 110.0% during the 1st quarter. Bank of America Corp DE now owns 507,269 shares of the energy company’s stock valued at $12,068,000 after acquiring an additional 265,715 shares in the last quarter. TD Asset Management Inc. lifted its stake in Matador Resources by 2.5% during the 2nd quarter. TD Asset Management Inc. now owns 36,200 shares of the energy company’s stock valued at $774,000 after acquiring an additional 897 shares in the last quarter. State Street Corp lifted its stake in Matador Resources by 3.2% during the 1st quarter. State Street Corp now owns 3,386,614 shares of the energy company’s stock valued at $80,568,000 after acquiring an additional 106,117 shares in the last quarter. Finally, UBS Group AG lifted its stake in Matador Resources by 3.4% during the 1st quarter. UBS Group AG now owns 42,343 shares of the energy company’s stock valued at $1,007,000 after acquiring an additional 1,384 shares in the last quarter. Institutional investors and hedge funds own 91.64% 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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