Matador Resources Co. (MTDR) Receives New Coverage from Analysts at Deutsche Bank AG
Deutsche Bank AG initiated coverage on shares of Matador Resources Co. (NYSE:MTDR) in a research note released on Monday morning. The firm issued a hold rating and a $25.68 price objective on the energy company’s stock.
A number of other research firms have also issued reports on MTDR. KLR Group upgraded shares of Matador Resources from a hold rating to an accumulate rating and set a $25.00 target price on the stock in a report on Wednesday, September 21st. Zacks Investment Research lowered shares of Matador Resources from a buy rating to a hold rating in a report on Thursday, October 6th. FBR & Co set a $30.00 target price on shares of Matador Resources and gave the company a buy rating in a report on Wednesday, November 2nd. Canaccord Genuity restated a hold rating and issued a $20.00 target price on shares of Matador Resources in a report on Friday, August 12th. Finally, Imperial Capital upped their target price on shares of Matador Resources from $25.00 to $28.00 and gave the company an outperform rating in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Matador Resources presently has an average rating of Buy and an average target price of $24.10.
Shares of Matador Resources (NYSE:MTDR) opened at 23.71 on Monday. Matador Resources has a 12 month low of $11.13 and a 12 month high of $25.95. The firm’s market capitalization is $2.22 billion. The firm’s 50 day moving average is $23.39 and its 200-day moving average is $22.44.
Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, November 1st. The energy company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.07. The firm had revenue of $88.70 million for the quarter, compared to analysts’ expectations of $78.07 million. Matador Resources had a negative net margin of 176.09% and a negative return on equity of 1.60%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. On average, analysts expect that Matador Resources will post ($0.05) EPS for the current fiscal year.
In related news, Director Joe A. Davis purchased 8,767 shares of the firm’s 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 transaction, the director now owns 1,747 shares of the company’s stock, valued at $39,656.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MTDR. PNC Financial Services Group Inc. increased its stake in 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 last quarter. First Manhattan Co. increased its stake in 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 last quarter. Springbank Value Partners LP increased its stake in 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 last quarter. BNP Paribas Arbitrage SA bought a new stake in Matador Resources during the second quarter worth $144,000. Finally, Seven Eight Capital LLC bought a new stake in Matador Resources during the second quarter worth $145,000. 84.46% of the stock is 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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