KLR Group Downgrades Matador Resources Company (MTDR) to Hold

November 28, 2016 7:48 AM EST
Get Alerts MTDR Hot Sheet
Price: $24.80 -0.56%

Rating Summary:
    14 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
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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)."

For an analyst ratings summary and ratings history on Matador Resources Company click here. For more ratings news on Matador Resources Company click here.

Shares of Matador Resources Company closed at $25.41 yesterday.



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