Matador Resources Company (NYSE:MTDR) has been given a $23.00 price target by equities researchers at BMO Capital Markets in a research report issued on Monday. The firm currently has a “buy” rating on the energy company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 13.30% from the company’s current price.
MTDR has been the subject of a number of other research reports. FBR & Co set a $32.00 price objective on Matador Resources Company and gave the company a “buy” rating in a research note on Monday, March 27th. Credit Suisse Group assumed coverage on Matador Resources Company in a research note on Thursday, June 1st. They set an “outperform” rating and a $34.00 price target for the company. J P Morgan Chase & Co cut their price target on Matador Resources Company from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 22nd. KLR Group upped their price target on Matador Resources Company from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Finally, ValuEngine upgraded Matador Resources Company from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $28.91.
Shares of Matador Resources Company (NYSE:MTDR) opened at 20.30 on Monday. The stock’s 50 day moving average is $23.09 and its 200-day moving average is $24.26. Matador Resources Company has a 52 week low of $18.56 and a 52 week high of $28.51. The firm has a market cap of $2.03 billion, a PE ratio of 35.74 and a beta of 1.18.
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In other Matador Resources Company news, Director Julia P. Forrester acquired 1,255 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was purchased at an average price of $23.96 per share, for a total transaction of $30,069.80. Following the completion of the transaction, the director now owns 3,399 shares of the company’s stock, valued at approximately $81,440.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph Wm Foran sold 11,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $23.12, for a total value of $254,320.00. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP boosted its position in Matador Resources Company by 66.7% in the first quarter. FNY Partners Fund LP now owns 5,000 shares of the energy company’s stock valued at $118,000 after buying an additional 2,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Matador Resources Company during the first quarter valued at $120,000. Parallel Advisors LLC raised its stake in Matador Resources Company by 10.8% in the first quarter. Parallel Advisors LLC now owns 6,982 shares of the energy company’s stock valued at $153,000 after buying an additional 682 shares during the period. Dubuque Bank & Trust Co. purchased a new stake in Matador Resources Company during the first quarter valued at $162,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Matador Resources Company during the first quarter valued at $178,000. Hedge funds and other institutional investors own 86.72% of the company’s stock.
About Matador Resources Company
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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