KLR Group Upgrades Matador Resources Co to Accumulate

Brokerage firm KLR Group Upgrades its rating on Matador Resources Co(NYSE:MTDR). The shares have been rated Accumulate. Previously, the analysts had a Hold rating on the shares. The rating by KLR Group was issued on Sep 21, 2016.

In a different note, FBR Capital said it Initiates Coverage on Matador Resources Co, according to a research note issued on Jul 21, 2016. The shares have been rated ‘Outperform’ by the firm. Wells Fargo said it Initiates Coverage on Matador Resources Co, according to a research note issued on Jul 7, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 29, 2016, Stifel Nicolaus said it Upgrades its rating on Matador Resources Co. The shares have been rated ‘Buy’ by the firm.

Matador Resources Co (MTDR) shares turned negative on Tuesdays trading session with the shares closing down -0.51 points or -2.43% at a volume of 12,59,586. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $20.96. The peak price level was also seen at $20.96 while the days lowest was $20.45. Finally the shares closed at $20.49. The 52-week high of the shares is $28.25 while the 52-week low is $11.13. According to the latest information available, the market cap of the company is $1,912 M.

Matador Resources Co(MTDR) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $45.18M. Analysts had an estimated revenue of $60.51M. Earnings per share were $-0.01. Analysts had estimated an EPS of $-0.11.

Several Insider Transactions has been reported to the SEC. On Sep 2, 2016, Joe A Davis (director) purchased 8,767 shares at $22.80 per share price.Also, On Aug 10, 2016, William M Byerley (director) purchased 2,288 shares at $21.86 per share price.On Dec 16, 2015, Joseph Wm Foran (CEO) purchased 4,657 shares at $20.95 per share price, according to the Form-4 filing with the securities and exchange commission.

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 operations are focused primarily on the oil and liquids portion of the Eagle Ford shale play in South Texas and the Wolfcamp and Bone Spring plays in the Permian Basin in Southeast New Mexico and West Texas. The Company also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. In addition it has an exploratory leasehold position in Southwest Wyoming and adjacent areas of Utah and Idaho where it is testing the Meade Peak shale. The Company is the operator for over 90% of its Eagle Ford acreage and approximately two-thirds of its Haynesville acreage including approximately 36% of its acreage. It has approximately 152400 gross (85400 net) acres in the Permian Basin.

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