SunTrust Banks Upgrades Matador Resources (MTDR) to Buy

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Matador Resources (NYSE:MTDR) was upgraded by investment analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $29.00 target price on the energy company’s stock, up from their previous target price of $23.00. SunTrust Banks’ price target suggests a potential upside of 53.12% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. MKM Partners started coverage on Matador Resources in a research report on Wednesday, December 5th. They set a “buy” rating and a $28.00 price target on the stock. BMO Capital Markets set a $32.00 price target on Matador Resources and gave the company a “buy” rating in a research report on Tuesday, November 13th. Zacks Investment Research upgraded Matador Resources from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, October 22nd. Stifel Nicolaus set a $38.00 price target on Matador Resources and gave the company a “buy” rating in a research report on Thursday, November 1st. Finally, Oppenheimer reiterated a “buy” rating on shares of Matador Resources in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.69.

MTDR opened at $18.94 on Tuesday. Matador Resources has a 12 month low of $13.97 and a 12 month high of $35.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.63 and a current ratio of 0.69. The company has a market capitalization of $2.25 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 0.69 and a beta of 2.00.

In related news, EVP Van H. Singleton II bought 2,005 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were acquired at an average cost of $22.26 per share, for a total transaction of $44,631.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Reynald Baribault bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average price of $17.47 per share, for a total transaction of $26,205.00. Following the completion of the acquisition, the director now directly owns 26,659 shares in the company, valued at $465,732.73. The disclosure for this purchase can be found here. Insiders purchased a total of 17,005 shares of company stock worth $366,202 over the last 90 days. Insiders own 11.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Matador Resources by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 1,363,023 shares of the energy company’s stock worth $45,048,000 after buying an additional 36,268 shares during the period. Griffin Asset Management Inc. boosted its position in shares of Matador Resources by 35.6% in the third quarter. Griffin Asset Management Inc. now owns 18,460 shares of the energy company’s stock worth $610,000 after buying an additional 4,850 shares during the period. Wells Fargo & Company MN boosted its position in shares of Matador Resources by 5.6% in the third quarter. Wells Fargo & Company MN now owns 1,201,980 shares of the energy company’s stock worth $39,725,000 after buying an additional 63,258 shares during the period. Sawgrass Asset Management LLC boosted its position in shares of Matador Resources by 111.7% in the third quarter. Sawgrass Asset Management LLC now owns 71,850 shares of the energy company’s stock worth $2,375,000 after buying an additional 37,910 shares during the period. Finally, Vanguard Group Inc boosted its position in shares of Matador Resources by 6.9% in the third quarter. Vanguard Group Inc now owns 9,530,794 shares of the energy company’s stock worth $314,992,000 after buying an additional 612,234 shares during the period. Institutional investors and hedge funds own 90.00% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates in two segments, Exploration and Production, and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.

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Analyst Recommendations for Matador Resources (NYSE:MTDR)

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