Why Has BofA Merrill Given Matador Resources (NYSE:MTDR) a $26.0 Price Target
In a recent research report sent to investors today, BofA Merrill analysts have begun Matador Resources (NYSE:MTDR) coverage with “Neutral” rating, and a $26.0 TP.
From a total of 16 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 $29.25 with a 49.50% above today’s ($20.93) stock price. Matador Resources was the topic of 14 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. KLR Group upgraded shares on December 9 to “Hold” rating. Wunderlich maintained shares with “Buy” rating and $37 target share price in a report from a September 16. Northland Capital maintained MTDR stock in a recent report from November 6 with “Outperform” rating. Finally, Canaccord Genuity initiated the stock with “Hold” rating in a report issued on an October 20.
Approximately 279,262 shares of stock traded hands. Matador Resources Co (NYSE:MTDR) has declined 17.93% since May 13, 2015 and is downtrending. It has underperformed by 15.30% the S&P500.
The overall sentiment of institutions has decreased to 1.1 in Q2 2015. Its down 0.21, from 1.31 in 2015Q2. The ratio dived, as 35 institutions have sold all the shares of Matador Resources Co that they owned while 46 funds have taken shares off the table. 25 funds have purchased shares for the first time while 64 added to their positions. These institutions now hold 63.45 million shares or 1.68% more than the 62.41 million shares they owned in 2015Q2.
The Fund Alta Advisers Ltd currently is holding shares equating to 4.07% of its total portfolio in Matador Resources Co representing a total of 120,253 shares. Another fund,Beck Mack & Oliver Llc, is holding a total of 3.58 million shares equating to 2.25% of their holdings. Additionally, Pembroke Management Ltd has a 1.30 million share stake in Matador Resources Co which represents 2.01% of their total portfolio. The Fund, Conestoga Capital Advisors Llc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 1.88% of their total portfolio. Finally Hodges Capital Management Inc., a fund which is based in the state of Texas reported a total holdings of 2.12 million shares.
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 $1.81 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.”