Matador Resources (NYSE:MTDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $32.00 price target on the energy company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.10% from the stock’s current price.
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. “
A number of other brokerages also recently issued reports on MTDR. Royal Bank of Canada set a $32.00 target price on Matador Resources and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Mizuho set a $28.00 price objective on Matador Resources and gave the company a “hold” rating in a research note on Saturday, November 25th. Northland Securities set a $35.00 price objective on Matador Resources and gave the company a “buy” rating in a research note on Wednesday, March 7th. Imperial Capital raised their price objective on Matador Resources from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus set a $36.00 price objective on Matador Resources and gave the company a “buy” rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Matador Resources has an average rating of “Buy” and an average target price of $32.59.
Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $168.40 million during the quarter, compared to the consensus estimate of $148.89 million. Matador Resources had a return on equity of 7.11% and a net margin of 22.64%. During the same period in the prior year, the business posted $0.08 EPS. research analysts anticipate that Matador Resources will post 1.28 earnings per share for the current year.
Large investors have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in Matador Resources by 164.4% during the 3rd quarter. Advisor Group Inc. now owns 4,386 shares of the energy company’s stock valued at $119,000 after buying an additional 2,727 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Matador Resources by 36.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,013 shares of the energy company’s stock valued at $187,000 after buying an additional 1,617 shares during the last quarter. Strs Ohio grew its holdings in Matador Resources by 125.9% during the 4th quarter. Strs Ohio now owns 6,100 shares of the energy company’s stock valued at $189,000 after buying an additional 3,400 shares during the last quarter. Creative Planning acquired a new stake in Matador Resources during the 4th quarter valued at $201,000. Finally, Teacher Retirement System of Texas acquired a new stake in Matador Resources during the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 88.21% of the company’s stock.
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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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