Zacks Investment Research upgraded shares of Matador Resources (NYSE:MTDR) from a hold rating to a buy rating in a research report released on Friday morning. They currently have $36.00 price objective on the energy company’s stock.

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 brokerages also recently issued reports on MTDR. Mizuho raised Matador Resources from a neutral rating to a buy rating in a report on Tuesday. Northland Securities set a $35.00 price target on Matador Resources and gave the company a buy rating in a report on Monday, November 13th. Royal Bank of Canada upped their price target on Matador Resources from $29.00 to $30.00 and gave the company an outperform rating in a report on Monday, November 13th. SunTrust Banks reaffirmed a buy rating and issued a $32.00 price target on shares of Matador Resources in a report on Friday, November 10th. Finally, Imperial Capital upped their price target on Matador Resources from $35.00 to $36.00 and gave the company an outperform rating in a report on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Matador Resources currently has an average rating of Buy and an average target price of $30.75.

Shares of Matador Resources (NYSE MTDR) traded down $0.53 during trading on Friday, hitting $31.66. The stock had a trading volume of 1,882,966 shares, compared to its average volume of 949,122. Matador Resources has a 1-year low of $20.13 and a 1-year high of $33.44. The firm has a market capitalization of $3,490.91, a P/E ratio of 16.15, a PEG ratio of 1.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.58 and a current ratio of 0.60.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Monday, November 6th. The energy company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.08. Matador Resources had a return on equity of 5.99% and a net margin of 40.30%. The business had revenue of $126.28 million during the quarter, compared to the consensus estimate of $123.62 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. analysts forecast that Matador Resources will post 0.68 EPS for the current year.

In other news, Director David M. Posner acquired 1,035 shares of Matador Resources stock in a transaction on Monday, December 4th. The stock was bought at an average price of $28.92 per share, for a total transaction of $29,932.20. Following the completion of the purchase, the director now owns 6,274 shares in the company, valued at $181,444.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.90% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Connors Investor Services Inc. raised its stake in shares of Matador Resources by 1.9% during the second quarter. Connors Investor Services Inc. now owns 76,883 shares of the energy company’s stock worth $1,643,000 after purchasing an additional 1,434 shares during the last quarter. Amalgamated Bank raised its stake in shares of Matador Resources by 19.8% during the second quarter. Amalgamated Bank now owns 12,813 shares of the energy company’s stock worth $274,000 after purchasing an additional 2,119 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Matador Resources by 17.7% during the second quarter. Van ECK Associates Corp now owns 14,813 shares of the energy company’s stock worth $317,000 after purchasing an additional 2,225 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Matador Resources by 0.9% during the third quarter. California Public Employees Retirement System now owns 302,500 shares of the energy company’s stock worth $8,213,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Advisor Group Inc. raised its stake in shares of Matador Resources by 164.4% during the third quarter. Advisor Group Inc. now owns 4,386 shares of the energy company’s stock worth $119,000 after purchasing an additional 2,727 shares during the last quarter. Institutional investors and hedge funds own 85.14% of the company’s stock.

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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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