Raymond James Maintains a Buy Rating on Matador Resources (MTDR)

By Jason Carr

In a report issued on August 10, John Freeman from Raymond James maintained a Buy rating on Matador Resources (NYSE: MTDR), with a price target of $43. The company’s shares closed on Friday at $32.72.

According to TipRanks.com, Freeman is a 5-star analyst with an average return of 13.3% and a 68.0% success rate. Freeman covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Petroleo Brasileiro SA- Petrobras, and CNX Resources Corporation.

Matador Resources has an analyst consensus of Strong Buy, with a price target consensus of $39.44, a 20.5% upside from current levels. In a report issued on August 3, Northland Securities also reiterated a Buy rating on the stock with a $39 price target.

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Based on Matador Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $59.81 million. In comparison, last year the company had a net profit of $28.51 million.

Based on the recent corporate insider activity of 55 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 20,294 shares for a total of $399,995.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.