Matador Resources Co (NYSE:MTDR) Receives $31.58 Average Target Price from Brokerages

Matador Resources Co (NYSE:MTDR) has been assigned a consensus rating of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $31.58.

Several analysts recently issued reports on MTDR shares. Imperial Capital restated an “outperform” rating and issued a $33.00 price target (up from $31.00) on shares of Matador Resources in a research note on Monday, April 1st. Wells Fargo & Co restated a “hold” rating on shares of Matador Resources in a research note on Wednesday, March 13th. Northland Securities restated a “buy” rating and issued a $32.00 price target on shares of Matador Resources in a research note on Tuesday, February 26th. MKM Partners restated a “neutral” rating and issued a $22.00 price target on shares of Matador Resources in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. upgraded Matador Resources from a “neutral” rating to an “overweight” rating and cut their target price for the company from $28.00 to $26.00 in a research report on Friday, June 7th.

In other Matador Resources news, President Matthew V. Hairford acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $16.78 per share, for a total transaction of $33,560.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley M. Robinson acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $16.76 per share, with a total value of $83,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 13,000 shares of company stock valued at $222,160. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in MTDR. Oregon Public Employees Retirement Fund increased its holdings in Matador Resources by 1.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 41,430 shares of the energy company’s stock worth $801,000 after purchasing an additional 565 shares in the last quarter. ETRADE Capital Management LLC increased its holdings in Matador Resources by 2.3% in the 4th quarter. ETRADE Capital Management LLC now owns 27,525 shares of the energy company’s stock worth $427,000 after purchasing an additional 617 shares in the last quarter. Connors Investor Services Inc. increased its holdings in Matador Resources by 1.1% in the 1st quarter. Connors Investor Services Inc. now owns 63,185 shares of the energy company’s stock worth $1,221,000 after purchasing an additional 678 shares in the last quarter. Value Holdings Management CO. LLC increased its holdings in Matador Resources by 0.3% in the 1st quarter. Value Holdings Management CO. LLC now owns 215,500 shares of the energy company’s stock worth $4,165,000 after purchasing an additional 700 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Matador Resources by 1.1% in the 4th quarter. Arizona State Retirement System now owns 74,313 shares of the energy company’s stock worth $1,154,000 after purchasing an additional 777 shares in the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

MTDR opened at $18.89 on Tuesday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 11.66, a PEG ratio of 0.80 and a beta of 1.92. Matador Resources has a 1 year low of $13.97 and a 1 year high of $34.90. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.78.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $173.89 million during the quarter, compared to the consensus estimate of $198.76 million. Matador Resources had a return on equity of 9.57% and a net margin of 22.37%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. On average, research analysts expect that Matador Resources will post 1.26 EPS for the current fiscal year.

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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Analyst Recommendations for Matador Resources (NYSE:MTDR)

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