Investment analysts at MKM Partners initiated coverage on shares of Matador Resources (NYSE:MTDR) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $28.00 price target on the energy company’s stock. MKM Partners’ price objective suggests a potential upside of 28.79% from the stock’s previous close.
Several other research firms have also recently issued reports on MTDR. Evercore ISI assumed coverage on Matador Resources in a report on Tuesday, September 25th. They set an “in-line” rating and a $38.00 price objective on the stock. SunTrust Banks cut Matador Resources from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $42.00 to $35.00 in a report on Monday, September 24th. They noted that the move was a valuation call. Oppenheimer initiated coverage on Matador Resources in a report on Wednesday, October 3rd. They set an “outperform” rating and a $43.00 price objective on the stock. Zacks Investment Research cut Matador Resources from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Finally, BMO Capital Markets set a $34.00 target price on Matador Resources and gave the company a “buy” rating in a report on Sunday, August 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $36.69.
MTDR stock opened at $21.74 on Wednesday. Matador Resources has a 52-week low of $21.34 and a 52-week high of $35.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.63 and a current ratio of 0.69. The firm has a market cap of $2.72 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43.
In other news, Director Reynald Baribault bought 1,500 shares of Matador Resources stock in a transaction that occurred on Wednesday, November 28th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $32,625.00. Following the completion of the acquisition, the director now owns 26,659 shares of the company’s stock, valued at $579,833.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy E. Parker bought 4,000 shares of Matador Resources stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average price of $24.56 per share, for a total transaction of $98,240.00. Following the acquisition, the director now directly owns 10,172 shares of the company’s stock, valued at approximately $249,824.32. The disclosure for this purchase can be found here. Insiders purchased 27,000 shares of company stock worth $636,231 in the last quarter. 11.10% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Canton Hathaway LLC acquired a new position in shares of Matador Resources during the third quarter worth about $116,000. Northstar Investment Advisors LLC acquired a new position in shares of Matador Resources during the third quarter worth about $205,000. Capital Fund Management S.A. acquired a new position in shares of Matador Resources during the second quarter worth about $207,000. Wesbanco Bank Inc. acquired a new position in shares of Matador Resources during the third quarter worth about $208,000. Finally, BB&T Corp acquired a new position in shares of Matador Resources during the third quarter worth about $232,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.
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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