Matador Resources Company (MTDR) Shares are Up 14.81%

Matador Resources Company (MTDR) : Traders are bullish on Matador Resources Company (MTDR) as it has outperformed the S&P 500 by a wide margin of 3.17% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 14.62%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 14.81% in the last 1 week, and is up 2.61% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 9.51% and the 50-Day Moving Average is 9.94%.The 200 Day SMA reached 21.17%

Matador

Matador Resources Company (NYSE:MTDR): After opening at $24.2, the stock dipped to an intraday low of $23.76 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $24.71 and the buying power remained strong till the end. The stock closed at $24.34 for the day, a gain of 1.54% for the day session. The total traded volume was 2,102,573. The stocks close on the previous trading day was $24.34.

Matador Resources Company (MTDR) stock is expected to deviate a maximum of $2.64 from the average target price of $27.53 for the short term period. 16 Street Experts have initiated coverage on the stock with the most promising target being $31 and the most muted being $23.

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 Companys 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 152,400 gross (85,400 net) acres, in the Permian Basin.

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