Finally Time to Make a Move? Nomura Initiates Coverage On Matador Resources (NYSE:MTDR) with $29.00 Price Target

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Why Has Nomura Given Matador Resources (NYSE:MTDR) a $29.00 Price Target

Research analysts at Nomura a key Neutral rating for Matador Resources (NYSE:MTDR). The firm have begun coverage in a recent report released on 3 December. The Estimated Target Price would possibly suggest upside of 20.63% from the current stock price.

From a total of 15 analysts covering Matador Resources (NYSE:MTDR) stock, 13 rate it a ”Buy”, 1 a “Sell”, and 1 a ”Hold”. This means that 87% of the ratings are positive. The highest target price is $34 while the lowest target price is $22. The mean of all analyst targets is $29.4 with a 30.00% above today’s ($24.07) stock price. Matador Resources was the topic of 12 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Northland Capital maintained shares on November 6 with “Outperform” rating. Wunderlich maintained shares with “Buy” rating and $37 target share price in a report from a September 16. Canaccord Genuity initiated MTDR stock in a recent report from October 20 with “Hold” rating. Finally, JP Morgan initiated the stock with “Overweight” rating in a report issued on an October 13.

Approximately 203,512 shares of stock traded hands. Matador Resources Co (NYSE:MTDR) has declined 13.53% since April 30, 2015 and is downtrending. It has underperformed by 13.24% the S&P500.

Matador Resources Company is an independent energy firm 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 has a market cap of $2.06 billion. The Company’s activities 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. It currently has negative earnings. The Firm also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas.

According to Zacks Investment Research, “Matador Resources Company is an energy company engaged in the exploration, development and acquisition of oil and natural gas resources in the United States. It focuses on oil and natural gas shale plays and other unconventional resource plays. Matador has operations primarily in Texas and Louisiana. The Company has acreage positions in west Texas, New Mexico, Wyoming, Utah and Idaho. Matador Resources Company is headquartered in Dallas, Texas.” Get a free copy of the Zacks research report on Matador Resources Co (MTDR).

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