RBC Capital Reiterates Their Buy Rating on Matador Resources

By Carrie Williams

In a report issued on June 15, Scott Hanold from RBC Capital reiterated a Buy rating on Matador Resources (NYSE: MTDR), with a price target of $34. The company’s shares closed yesterday at $21.62.

According to TipRanks.com, Hanold is ranked 0 out of 5 stars with an average return of -9.9% and a 22.6% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Contango Oil & Gas Company, Sanchez Energy Corporation, and Quicksilver Resources Inc.

Matador Resources has an analyst consensus of Strong Buy, with a price target consensus of $30.67.

Based on Matador Resources’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $116 million and quarterly net profit of $43.98 million. In comparison, last year the company earned revenue of $43.93 million and had a GAAP net loss of $108 million.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2017, Joseph Wm Foran, the Chairman & CEO of MTDR bought 87,500 shares for a total of $718,375.

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Matador Resources Co. is an independent energy company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through Exploration and Production, and Midstream segments. The Exploration and Production segment is engaged in the acquisition, exploration and development of oil and natural gas properties. The Midstream segment conducts midstream operation in support of the exploration, development and production operations of the company and provides natural gas processing, natural gas, oil and salt water gathering services and salt water disposal services to third parties on a limited basis. The company was founded by Joseph William Foran and Scott E. King in July 2003 and is headquartered in Dallas, TX.