Matador Resources (MTDR) Receives a Buy from BMO Capital


In a report released yesterday, Dan McSpirit from BMO Capital reiterated a Buy rating on Matador Resources (MTDR), with a price target of $32. The company’s shares closed yesterday at $23.83, close to its 52-week low of $23.74.

According to TipRanks.com, McSpirit is a 2-star analyst with an average return of -0.2% and a 42.9% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Resolute Energy Corp.

Currently, the analyst consensus on Matador Resources is a Strong Buy with an average price target of $39.83, implying a 67.1% upside from current levels. In a report issued on November 2, Oppenheimer also reiterated a Buy rating on the stock with a $43 price target.

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Based on Matador Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $17.79 million. In comparison, last year the company had a net profit of $15.04 million.

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Matador Resources Co. is a holding company engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration & Production; Midstream, and Corporate.

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