Wall Street analysts expect Matador Resources Company (NYSE:MTDR) to announce sales of $114.10 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Matador Resources’ earnings, with the lowest sales estimate coming in at $107.97 million and the highest estimate coming in at $118.00 million. Matador Resources reported sales of $45.18 million in the same quarter last year, which indicates a positive year-over-year growth rate of 152.5%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Matador Resources will report full year sales of $114.10 million for the current fiscal year, with estimates ranging from $462.98 million to $524.10 million. For the next financial year, analysts anticipate that the company will post sales of $593.87 million per share, with estimates ranging from $485.40 million to $729.17 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Matador Resources.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Matador Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. KLR Group raised their price objective on shares of Matador Resources from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Royal Bank Of Canada restated a “buy” rating and issued a $28.00 price objective on shares of Matador Resources in a report on Thursday, July 20th. ValuEngine upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Credit Suisse Group assumed coverage on shares of Matador Resources in a report on Thursday, June 1st. They issued an “outperform” rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $28.57.
In other news, Director Julia P. Forrester purchased 1,255 shares of Matador Resources stock in a transaction that occurred on Wednesday, May 24th. The stock was bought at an average price of $23.96 per share, with a total value of $30,069.80. Following the completion of the transaction, the director now directly owns 3,399 shares of the company’s stock, valued at $81,440.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph Wm Foran sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.12, for a total transaction of $254,320.00. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MTDR. FNY Partners Fund LP increased its stake in shares of Matador Resources by 66.7% in the first quarter. FNY Partners Fund LP now owns 5,000 shares of the energy company’s stock valued at $118,000 after buying an additional 2,000 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Matador Resources during the first quarter valued at $120,000. Dubuque Bank & Trust Co. increased its stake in shares of Matador Resources by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 7,099 shares of the energy company’s stock valued at $152,000 after buying an additional 275 shares during the period. Parallel Advisors LLC increased its stake in shares of Matador Resources by 10.8% in the first quarter. Parallel Advisors LLC now owns 6,982 shares of the energy company’s stock valued at $153,000 after buying an additional 682 shares during the period. Finally, LS Investment Advisors LLC purchased a new stake in shares of Matador Resources during the second quarter valued at $155,000. 86.57% of the stock is owned by institutional investors.
Shares of Matador Resources (MTDR) traded down 1.07% during mid-day trading on Friday, reaching $24.00. The company had a trading volume of 1,454,370 shares. The company has a market capitalization of $2.40 billion, a P/E ratio of 38.10 and a beta of 1.18. The firm has a 50-day moving average of $22.29 and a 200-day moving average of $23.57. Matador Resources has a 12-month low of $18.56 and a 12-month high of $28.51.
About Matador Resources
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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