Analysts at KLR Group upgraded shares of Matador Resources Co. (NYSE: MTDR) from Hold to Accumulate today. KLR Group currently has a rating of Accumulate on the shares. A number of other analysts have issued reports on the company in recent days, and the company has secured a consensus one-year price target of $26.93, higher than the opening price of $21.16, a difference of 12.27 percent. Matador Resources Co. stock has a 52-week high of $28.25. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Matador Resources Co. (NYSE: MTDR) opened at $21.16 yesterday trading between $20.82 and $22.02, and last traded at $21.95, which is a jump of $1.46 over the previous closing price.
Matador Resources Co. (NYSE: MTDR) currently has a market cap of 2.05B.
The stock’s average daily volume is 1,549,500 shares out of a total float 81,962,000 and some 1,718,130 shares traded hands yesterday, above the norm. Substantial expansions in trading volume and price growth together could mean considerable volume accumulation by institutional investors.
However, one day of high volume buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Matador Resources Co. (NYSE: MTDR) have ranged from $11.13 – 28.25, and the stock now has a 50-day MA of $22.64 and 200-day MA of $21.41. Today’s last price is 0.22% under the 52 week high of $28.25.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings at least 25% or more for a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.