Zacks Investment Research downgraded shares of Matador Resources Company (NYSE:MTDR) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Matador Resources Company is an energy company engaged in the exploration, development and acquisition of oil and natural gas resources in the United States. It focuses on oil and natural gas shale plays and other unconventional resource plays. Matador has operations primarily in Texas and Louisiana. The Company has acreage positions in west Texas, New Mexico, Wyoming, Utah and Idaho. Matador Resources Company is headquartered in Dallas, Texas. “

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada restated a buy rating and issued a $28.00 target price on shares of Matador Resources in a research note on Thursday, July 20th. Bank of America Corporation assumed coverage on shares of Matador Resources in a research note on Wednesday, July 19th. They issued a neutral rating and a $26.00 target price on the stock. BidaskClub upgraded shares of Matador Resources from a hold rating to a buy rating in a research note on Wednesday, July 19th. Imperial Capital assumed coverage on shares of Matador Resources in a research note on Tuesday, July 18th. They issued an outperform rating and a $32.00 target price on the stock. Finally, Northland Securities set a $33.00 target price on shares of Matador Resources and gave the stock a buy rating in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $28.57.

Shares of Matador Resources (NYSE MTDR) opened at 24.74 on Wednesday. The firm’s 50-day moving average price is $22.26 and its 200 day moving average price is $23.60. The company has a market capitalization of $2.48 billion, a PE ratio of 43.56 and a beta of 1.18. Matador Resources has a 52-week low of $18.56 and a 52-week high of $28.51.

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In related news, Chairman Joseph Wm Foran sold 11,000 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.12, for a total transaction of $254,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julia P. Forrester bought 1,255 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were purchased at an average cost of $23.96 per share, with a total value of $30,069.80. Following the transaction, the director now directly owns 3,399 shares of the company’s stock, valued at $81,440.04. The disclosure for this purchase can be found here. Corporate insiders own 11.90% of the company’s stock.

A number of large investors have recently bought and sold shares of MTDR. Russell Investments Group Ltd. purchased a new stake in Matador Resources during the fourth quarter worth approximately $827,000. FMR LLC purchased a new stake in Matador Resources during the fourth quarter worth approximately $3,187,000. Oppenheimer & Co. Inc. purchased a new stake in Matador Resources during the first quarter worth approximately $1,070,000. First National Bank of Omaha boosted its stake in Matador Resources by 33.5% in the first quarter. First National Bank of Omaha now owns 43,186 shares of the energy company’s stock worth $1,027,000 after buying an additional 10,835 shares during the last quarter. Finally, Columbus Circle Investors purchased a new stake in Matador Resources during the first quarter worth approximately $4,208,000. 86.67% of the stock is owned by institutional investors.

About Matador Resources

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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