Wells Fargo & Company upgraded shares of Matador Resources (NYSE:MTDR) from an equal weight rating to an overweight rating in a research note published on Monday morning, Benzinga reports. The brokerage currently has $13.00 price target on the energy company’s stock, up from their prior price target of $10.00.
MTDR has been the topic of several other reports. SunTrust Banks increased their price objective on shares of Matador Resources from $11.00 to $12.00 and gave the company a hold rating in a research report on Thursday, July 30th. Cowen raised shares of Matador Resources from a market perform rating to an outperform rating and raised their price target for the stock from $9.25 to $12.75 in a research report on Wednesday, July 22nd. Raymond James raised shares of Matador Resources from a market perform rating to an outperform rating and set a $11.00 price target on the stock in a research report on Monday, July 20th. Royal Bank of Canada reaffirmed a buy rating on shares of Matador Resources in a research report on Thursday, June 4th. Finally, Siebert Williams Shank reaffirmed a hold rating and set a $11.00 price target on shares of Matador Resources in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $13.63.
Shares of MTDR opened at $9.05 on Monday. The firm has a market capitalization of $1.06 billion, a PE ratio of -6.61, a PEG ratio of 6.66 and a beta of 4.80. The company’s 50-day moving average is $9.29 and its 200-day moving average is $7.31. Matador Resources has a fifty-two week low of $1.11 and a fifty-two week high of $19.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.66 and a quick ratio of 0.62.
Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, July 28th. The energy company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.14. The company had revenue of $118.80 million for the quarter, compared to analyst estimates of $171.79 million. Matador Resources had a negative net margin of 15.93% and a positive return on equity of 5.30%. The company’s revenue was down 50.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Analysts predict that Matador Resources will post 0.07 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. D L Carlson Investment Group Inc. bought a new position in Matador Resources in the 1st quarter valued at about $25,000. Advisor Group Holdings Inc. acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $34,000. Magnus Financial Group LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $43,000. Two Sigma Securities LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $46,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Matador Resources by 33.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,795 shares of the energy company’s stock valued at $64,000 after purchasing an additional 6,456 shares in the last quarter. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
Matador Resources Company Profile
Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates in two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.
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