Matador Resources (MTDR) Coverage Initiated by Analysts at Cowen

Cowen assumed coverage on shares of Matador Resources (NYSE:MTDR) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued a market perform rating on the energy company’s stock.

A number of other research analysts also recently commented on MTDR. Imperial Capital increased their target price on Matador Resources from $43.00 to $45.00 and gave the company an outperform rating in a research report on Friday, August 3rd. Northland Securities set a $39.00 target price on Matador Resources and gave the company a buy rating in a research report on Friday, August 3rd. Raymond James reiterated a buy rating and set a $43.00 target price on shares of Matador Resources in a research report on Sunday, August 12th. BMO Capital Markets set a $34.00 target price on Matador Resources and gave the company a buy rating in a research report on Sunday, August 12th. Finally, Johnson Rice downgraded Matador Resources from a buy rating to an accumulate rating and set a $38.00 target price for the company. in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $38.00.

NYSE MTDR opened at $22.80 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.65 billion, a PE ratio of 31.67, a PEG ratio of 0.61 and a beta of 1.54. Matador Resources has a one year low of $21.43 and a one year high of $35.22.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, October 31st. The energy company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The firm had revenue of $207.18 million during the quarter, compared to the consensus estimate of $208.75 million. Matador Resources had a return on equity of 11.17% and a net margin of 22.69%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, sell-side analysts expect that Matador Resources will post 1.67 EPS for the current year.

In other Matador Resources news, CFO David E. Lancaster bought 2,500 shares of Matador Resources stock in a transaction on Wednesday, November 28th. The shares were acquired at an average price of $21.88 per share, for a total transaction of $54,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy E. Parker bought 4,000 shares of Matador Resources stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $24.56 per share, for a total transaction of $98,240.00. Following the purchase, the director now owns 10,172 shares of the company’s stock, valued at $249,824.32. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,800 shares of company stock worth $608,591 in the last 90 days. 11.10% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Matador Resources by 4.2% in the third quarter. BlackRock Inc. now owns 12,200,714 shares of the energy company’s stock worth $403,234,000 after purchasing an additional 493,829 shares during the period. Vanguard Group Inc. increased its stake in Matador Resources by 6.9% in the third quarter. Vanguard Group Inc. now owns 9,530,794 shares of the energy company’s stock worth $314,992,000 after purchasing an additional 612,234 shares during the period. Dimensional Fund Advisors LP increased its stake in Matador Resources by 7.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,390,810 shares of the energy company’s stock worth $112,066,000 after purchasing an additional 244,527 shares during the period. OppenheimerFunds Inc. increased its stake in Matador Resources by 40.3% in the second quarter. OppenheimerFunds Inc. now owns 2,026,084 shares of the energy company’s stock worth $60,885,000 after purchasing an additional 581,649 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in Matador Resources by 13.4% in the third quarter. Glenmede Trust Co. NA now owns 1,682,448 shares of the energy company’s stock worth $55,604,000 after purchasing an additional 198,620 shares during the period. Institutional investors and hedge funds own 88.46% of the company’s stock.

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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