Northland Securities analyst Jeff Grampp maintained a Buy rating on Matador Resources (MTDR) on March 17 and set a price target of $32. The company’s shares closed yesterday at $19.65.
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.1% and a 35.3% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Goodrich Petroleum Corp, and Lonestar Resources US.
Currently, the analyst consensus on Matador Resources is a Moderate Buy with an average price target of $28.86, representing a 46.9% upside. In a report issued on March 13, Oppenheimer also assigned a Buy rating to the stock with a $33 price target.
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The company has a one-year high of $35.22 and a one-year low of $13.97. Currently, Matador Resources has an average volume of 2.4M.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MTDR in relation to earlier this year. Earlier this month, Joseph Wm Foran, the Chairman & CEO of MTDR bought 10,000 shares for a total of $150,000.
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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; and Midstream.
