Analysts at Bank of America Corporation began coverage on shares of Matador Resources Company (NYSE:MTDR) in a report issued on Wednesday. The firm set a “neutral” rating and a $26.00 price target on the energy company’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 12.51% from the company’s previous close.
Several other research analysts have also issued reports on the stock. ValuEngine lowered shares of Matador Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. FBR & Co set a $32.00 price target on shares of Matador Resources and gave the stock a “buy” rating in a report on Monday, March 27th. KLR Group raised their price target on shares of Matador Resources from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. J P Morgan Chase & Co lowered their price target on shares of Matador Resources from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 22nd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $34.00 price target on shares of Matador Resources in a report on Friday, June 16th. 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 stock. Matador Resources has an average rating of “Buy” and an average price target of $28.57.
Shares of Matador Resources (MTDR) traded down 0.39% on Wednesday, reaching $23.02. 1,268,622 shares of the company were exchanged. Matador Resources has a 12 month low of $18.56 and a 12 month high of $28.51. The company’s 50-day moving average price is $22.07 and its 200 day moving average price is $23.68. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 40.53 and a beta of 1.18.
In related news, Chairman Joseph Wm Foran sold 11,000 shares of Matador Resources stock in a transaction on Friday, June 9th. The shares were sold at an average price of $23.12, for a total value of $254,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julia P. Forrester purchased 1,255 shares of Matador Resources stock in a transaction that occurred on Wednesday, May 24th. The stock was acquired at an average cost of $23.96 per share, with a total value of $30,069.80. Following the transaction, the director now owns 3,399 shares in the company, 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 hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Matador Resources by 4.4% in the first quarter. Bank of Montreal Can now owns 39,006 shares of the energy company’s stock valued at $928,000 after buying an additional 1,646 shares during the last quarter. Creative Planning increased its stake in Matador Resources by 21,616.7% in the first quarter. Creative Planning now owns 65,150 shares of the energy company’s stock valued at $1,550,000 after buying an additional 64,850 shares during the last quarter. New Century Investment Management Inc. acquired a new stake in Matador Resources during the fourth quarter valued at about $682,000. Teachers Advisors LLC increased its stake in Matador Resources by 31.3% in the fourth quarter. Teachers Advisors LLC now owns 3,519,156 shares of the energy company’s stock valued at $90,653,000 after buying an additional 839,913 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Matador Resources during the fourth quarter valued at about $644,000. 86.66% of the stock is owned by institutional investors and hedge funds.
Matador Resources Company Profile
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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