Brokerages Set Matador Resources Co (MTDR) Target Price at $37.73

Shares of Matador Resources Co (NYSE:MTDR) have been given an average rating of “Buy” by the twenty brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $37.73.

A number of equities research analysts recently weighed in on the stock. Johnson Rice downgraded shares of Matador Resources from a “buy” rating to an “accumulate” rating and set a $38.00 price target for the company. in a research note on Wednesday, August 15th. TheStreet raised shares of Matador Resources from a “c+” rating to a “b” rating in a research note on Tuesday, July 17th. Oppenheimer reissued a “buy” rating on shares of Matador Resources in a research note on Tuesday, October 16th. Zacks Investment Research raised shares of Matador Resources from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, September 26th. Finally, BMO Capital Markets set a $34.00 price target on shares of Matador Resources and gave the stock a “buy” rating in a research note on Sunday, August 12th.

Large investors have recently modified their holdings of the business. Swiss National Bank boosted its holdings in shares of Matador Resources by 7.4% in the third quarter. Swiss National Bank now owns 182,502 shares of the energy company’s stock valued at $6,032,000 after buying an additional 12,500 shares during the period. MML Investors Services LLC acquired a new position in shares of Matador Resources in the third quarter valued at approximately $249,000. Brasada Capital Management LP boosted its holdings in shares of Matador Resources by 9.4% in the third quarter. Brasada Capital Management LP now owns 130,074 shares of the energy company’s stock valued at $4,299,000 after buying an additional 11,134 shares during the period. Oak Ridge Investments LLC boosted its holdings in shares of Matador Resources by 38.7% in the third quarter. Oak Ridge Investments LLC now owns 467,494 shares of the energy company’s stock valued at $15,451,000 after buying an additional 130,435 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Matador Resources by 16.7% in the third quarter. SG Americas Securities LLC now owns 22,170 shares of the energy company’s stock valued at $733,000 after buying an additional 3,176 shares during the period. 88.19% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MTDR traded down $1.26 during trading on Monday, reaching $27.43. The company had a trading volume of 437,647 shares, compared to its average volume of 1,596,219. Matador Resources has a 52 week low of $25.47 and a 52 week high of $35.22. The company has a market cap of $3.21 billion, a PE ratio of 38.10, a P/E/G ratio of 0.72 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 (NYSE:MTDR) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.11. Matador Resources had a net margin of 22.69% and a return on equity of 11.17%. The company had revenue of $207.18 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 64.1% on a year-over-year basis. As a group, equities research analysts forecast that Matador Resources will post 1.66 earnings per share for the current year.

About Matador Resources

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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Analyst Recommendations for Matador Resources (NYSE:MTDR)

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