Shares of Matador Resources Company (NYSE:MTDR) traded today at $45.00, eclipsing its 52-week high. Approximately 722,000 shares have changed hands today, as compared to an average 30-day volume of 1.8 million shares.
Matador Resources Co is an independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas resources. The majority of the company’s assets are located in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Along with maintaining a portfolio of oil and natural gas properties, Matador works to identify and develop midstream opportunities that support and enhance its exploration and development business. The company often uses advanced formation evaluation, 3-D seismic technology, horizontal drilling, and hydraulic fracturing technology to enhance the development of the basins in which it operates.
In the past 52 weeks, shares of Matador Resources Company have traded between a low of $6.29 and a high of $45.00 and is now at $44.20, which is 603% above that low price.
Potential upside of 175.1% exists for Matador Resources Company, based on a current level of $44.20 and analysts’ average consensus price target of $121.62.
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