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Matador Resources Company (MTDR) is an independent energy company.
The firm engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States.
It operates in two segments, Exploration and Production, and Midstream.
The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas; the Eagle Ford shale play in South Texas; and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas.
It also conducts midstream operations in support of the company's exploration, development, and production operations, as well as provides natural gas processing, natural gas, oil, and salt water gathering services; and salt water disposal services to third parties. As of December 31, 2016, its estimated proved oil and natural gas reserves were 105.8 million barrels of oil equivalent, including 57 million stock tank barrels of oil and 292.6 billion cubic feet of natural gas. Shares have formed a bullish "cup and handle" and are on the cusp of moving higher out of this formation. The firm reported its quarterly results yesterday. On a per-share basis, the company said it had net income of 15 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share, above the expected 10 cents per share. It posted posted revenue of $126.3 million in the period, above the $121.8 million expected.
52-Weeks Trading Range: $20.13 - $28.51
Entry Point: $28.95
Stop Loss: $27.25
Target Price: $32.00
MTDR closed at $29.65
