Matador Resources Company (NYSE:MTDR) Earns Buy Rating from Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Matador Resources Company (NYSE:MTDR) in a research report report published on Thursday morning. They currently have a $28.00 price target on the energy company’s stock.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Matador Resources from a hold rating to a sell rating in a research note on Wednesday, July 19th. Scotiabank set a $31.00 price target on Matador Resources and gave the company a buy rating in a research note on Saturday, March 25th. ValuEngine cut Matador Resources from a hold rating to a sell rating in a research note on Thursday, May 18th. Bank of America Corporation assumed coverage on Matador Resources in a research note on Wednesday, July 19th. They issued a neutral rating and a $26.00 price target for the company. Finally, BidaskClub raised Matador Resources from a hold rating to a buy rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Matador Resources currently has an average rating of Buy and a consensus target price of $28.57.
Matador Resources (MTDR) opened at 22.97 on Thursday. The stock’s 50 day moving average price is $22.07 and its 200 day moving average price is $23.68. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 40.44 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 other Matador Resources news, Chairman Joseph Wm Foran sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $23.12, for a total value of $254,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julia P. Forrester acquired 1,255 shares of Matador Resources stock in a transaction on Wednesday, May 24th. The stock was purchased at an average cost of $23.96 per share, with a total value of $30,069.80. Following the purchase, the director now directly owns 3,399 shares of the company’s stock, valued at approximately $81,440.04. The disclosure for this purchase can be found here. Company insiders own 11.90% of the company’s stock.
A number of large investors have recently made changes to their positions in MTDR. FNY Partners Fund LP boosted its stake in shares of Matador Resources by 66.7% in the first quarter. FNY Partners Fund LP now owns 5,000 shares of the energy company’s stock worth $118,000 after buying an additional 2,000 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Matador Resources during the first quarter worth $120,000. Dubuque Bank & Trust Co. raised its position in Matador Resources by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 7,099 shares of the energy company’s stock worth $152,000 after buying an additional 275 shares in the last quarter. Parallel Advisors LLC raised its position in Matador Resources by 10.8% in the first quarter. Parallel Advisors LLC now owns 6,982 shares of the energy company’s stock worth $153,000 after buying an additional 682 shares in the last quarter. Finally, LS Investment Advisors LLC bought a new position in Matador Resources during the second quarter worth $155,000. 86.67% of the stock is owned by hedge funds and other 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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