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 3.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.66%, 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 6.71% in the last 1 week, and is up 4.54% 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 9.39% and the 50-Day Moving Average is 7.28%. Matador Resources Company (NYSE:MTDR): stock turned positive on Friday. Though the stock opened at $23.12, the bulls momentum made the stock top out at $23.15 level for the day. The stock recorded a low of $22.41 and closed the trading day at $23.05, in the green by 0.48%. The total traded volume for the day was 1,261,065. The stock had closed at $22.94 in the previous days trading.
The company Insiders own 12.7% of Matador Resources Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 130.97% . Institutional Investors own 83.97% of Matador Resources Company shares. During last six month period, the net percent change held by insiders has seen a change of 130.97%. Also, FBR Capital initiates coverage on Matador Resources Company (NYSE:MTDR).The analysts at the brokerage house have a current rating of Outperform on the shares. In a recent information released to the investors, FBR Capital announces the price target of $28 per share. The rating by the firm was issued on July 21, 2016.
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.