Shares of Matador Resources Co (NYSE:MTDR) have been assigned an average recommendation of “Buy” from the nineteen research firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $37.73.
MTDR has been the subject of several recent analyst reports. Evercore ISI initiated coverage on shares of Matador Resources in a report on Tuesday, September 25th. They set an “in-line” rating and a $38.00 price objective for the company. Johnson Rice cut shares of Matador Resources from a “buy” rating to an “accumulate” rating and set a $38.00 price target on the stock. in a research note on Wednesday, August 15th. Zacks Investment Research cut shares of Matador Resources from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Oppenheimer started coverage on shares of Matador Resources in a research note on Wednesday, October 3rd. They set an “outperform” rating and a $43.00 price target on the stock. Finally, KLR Group reissued a “buy” rating and set a $38.00 price target on shares of Matador Resources in a research note on Monday, August 20th.
Shares of NYSE MTDR traded down $0.43 during mid-day trading on Monday, hitting $26.56. 1,969,065 shares of the stock were exchanged, compared to its average volume of 1,580,860. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 0.75 and a beta of 1.54. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 0.62. Matador Resources has a twelve month low of $25.47 and a twelve month high of $35.22.
Hedge funds have recently made changes to their positions in the business. Canton Hathaway LLC bought a new position in Matador Resources in the third quarter valued at approximately $116,000. Fortaleza Asset Management Inc. boosted its stake in Matador Resources by 41.2% in the second quarter. Fortaleza Asset Management Inc. now owns 5,965 shares of the energy company’s stock valued at $179,000 after acquiring an additional 1,740 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Matador Resources during the first quarter worth $205,000. Northstar Investment Advisors LLC bought a new position in shares of Matador Resources during the third quarter worth $205,000. Finally, Capital Fund Management S.A. bought a new position in shares of Matador Resources during the second quarter worth $207,000. 88.19% 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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