Matador Resources Company (MTDR) has risen sharply, recording gains of 9.81% in the past 4 weeks. However, the stock has corrected -0.75% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 9.96% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.77% and the 50-Day Moving Average is 9.37%.The 200 Day SMA reached 17.04%. Matador Resources Company is up 1.45% in the last 3-month period. Year-to-Date the stock performance stands at 19.98%.
Matador Resources Company (NYSE:MTDR): After opening at $23.66, the stock dipped to an intraday low of $23.385 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $24.1 and the buying power remained strong till the end. The stock closed at $23.72 for the day, a gain of 3.13% for the day session. The total traded volume was 1,214,452. The stocks close on the previous trading day was $23.
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Companys operations are focused primarily on the oil and liquids portion of the Eagle Ford shale play in South Texas and the Wolfcamp and Bone Spring plays in the Permian Basin in Southeast New Mexico and West Texas. The Company also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. In addition, it has an exploratory leasehold position in Southwest Wyoming and adjacent areas of Utah and Idaho where it is testing the Meade Peak shale. The Company is the operator for over 90% of its Eagle Ford acreage and approximately two-thirds of its Haynesville acreage, including approximately 36% of its acreage. It has approximately 152,400 gross (85,400 net) acres, in the Permian Basin.