Matador Resources (NYSE:MTDR) Upgraded by Zacks Investment Research to “Buy”

Matador Resources (NYSE:MTDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, January 19th. The brokerage currently has a $36.00 target price on the energy company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 21.75% from the company’s previous close.

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. “

MTDR has been the subject of several other research reports. BMO Capital Markets set a $29.00 target price on Matador Resources and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Royal Bank of Canada set a $32.00 target price on Matador Resources and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Mizuho set a $28.00 price objective on Matador Resources and gave the company a “hold” rating in a research note on Saturday, November 25th. Imperial Capital increased their price objective on Matador Resources from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, BidaskClub raised Matador Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Matador Resources presently has an average rating of “Buy” and an average price target of $31.81.

Matador Resources (MTDR) traded up $1.31 during mid-day trading on Friday, hitting $29.57. 969,206 shares of the company traded hands, compared to its average volume of 1,240,000. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.58 and a current ratio of 0.60. The company has a market capitalization of $3,210.00, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.20. Matador Resources has a one year low of $20.13 and a one year high of $33.96.

In other Matador Resources news, Director David M. Posner acquired 1,035 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were bought at an average cost of $28.92 per share, with a total value of $29,932.20. Following the completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $181,444.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Matador Resources by 53.9% in the second quarter. BlackRock Inc. now owns 10,186,099 shares of the energy company’s stock worth $217,677,000 after purchasing an additional 3,566,950 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Matador Resources by 216.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,460,532 shares of the energy company’s stock worth $66,804,000 after purchasing an additional 1,682,663 shares during the last quarter. State Street Corp boosted its position in Matador Resources by 40.5% in the second quarter. State Street Corp now owns 4,756,810 shares of the energy company’s stock worth $101,655,000 after purchasing an additional 1,370,196 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Matador Resources by 167.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,778,002 shares of the energy company’s stock worth $55,349,000 after purchasing an additional 1,113,689 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in Matador Resources by 123.2% in the fourth quarter. OppenheimerFunds Inc. now owns 1,157,917 shares of the energy company’s stock worth $36,047,000 after purchasing an additional 639,074 shares during the last quarter. 85.90% of the stock is currently owned by institutional investors.

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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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