KLR Group Downgrades Matador Resources Company (MTDR) to Hold
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
KLR Group downgraded Matador Resources Company (NYSE: MTDR) from Accumulate to Hold with a price target of $25.00.
Analyst John Gerdes commented, "We are downgrading MTDR from Accumulate to Hold. Our $25 target price is unchanged. Since our mid-September upgrade, MTDR has appreciated ~15% and outperformed the sector by almost 10%. The company’s stock price now reflects our target, thus requiring a downgrade to Hold.
Matador’s mid-cycle capital yield of 125%-130% approximates the industry median cash recycle ratio. Our ’16 production expectation of ~10.2 Mmboe is at the high end of company guidance (9.8-10.2 Mmboe)."
Shares of Matador Resources Company closed at $25.41 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FBR Capital Raises Price Target on Matador Resources (MTDR) Following Announced Offerings
- MKM Partners Raises Price Target on Arista Networks (ANET) Following U.S. Customs and Border Protection Approval
- UPDATE: Seaport Global Securities Starts Owens Corning (OC) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!