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Matador Resources (MTDR) Up 50.4% MTD: What's Driving It?
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Shares of Matador Resources Company (MTDR - Free Report) have jumped 50.4% month to date (MTD) versus the industry’s 25.3% growth. Notably, the Zacks Rank #3 (Hold) stock has witnessed upward earnings estimate revisions for 2020 and 2021 in the past 30 days.
Let’s delve into the factors behind the stock’s price appreciation.
What’s Favoring the Stock?
Although the price of West Texas Intermediate (WTI) crude, approaching $45 per barrel, is significantly below the 2020-beginning price of more than $60 mark, the commodity price has improved considerably in the past few months. The momentum is likely to continue since the market has witnessed the impact of positive vaccine results.
Notably, the vaccine being developed by the University of Oxford and AstraZeneca has shown to be up to 90% effective in preventing people from getting infected with coronavirus. Also, it will be easier to distribute the vaccine since unlike the shots of Moderna, Inc. (MRNA - Free Report) and Pfizer Inc. (PFE - Free Report) , it could be stored at normal refrigerated temperature.
The positive vaccine data raised hopes that fuel demand will recover considerably once majority of people in the world get vaccinated. Thus, possibilities of energy, now a beaten-down sector, rebounding by next year are high. Overall, improving oil prices are definitely a boon for exploration and production company Matador Resources, with a strong footprint in liquids-rich Delaware Basin’s Wolfcamp and Bone Spring plays. The upstream player also operates in the prolific Eagle Ford shale play.
The stock has seen upward earnings estimate revisions for 2020 in the past 60 days.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Matador Resources (MTDR) Up 50.4% MTD: What's Driving It?
Shares of Matador Resources Company (MTDR - Free Report) have jumped 50.4% month to date (MTD) versus the industry’s 25.3% growth. Notably, the Zacks Rank #3 (Hold) stock has witnessed upward earnings estimate revisions for 2020 and 2021 in the past 30 days.
Let’s delve into the factors behind the stock’s price appreciation.
What’s Favoring the Stock?
Although the price of West Texas Intermediate (WTI) crude, approaching $45 per barrel, is significantly below the 2020-beginning price of more than $60 mark, the commodity price has improved considerably in the past few months. The momentum is likely to continue since the market has witnessed the impact of positive vaccine results.
Notably, the vaccine being developed by the University of Oxford and AstraZeneca has shown to be up to 90% effective in preventing people from getting infected with coronavirus. Also, it will be easier to distribute the vaccine since unlike the shots of Moderna, Inc. (MRNA - Free Report) and Pfizer Inc. (PFE - Free Report) , it could be stored at normal refrigerated temperature.
The positive vaccine data raised hopes that fuel demand will recover considerably once majority of people in the world get vaccinated. Thus, possibilities of energy, now a beaten-down sector, rebounding by next year are high. Overall, improving oil prices are definitely a boon for exploration and production company Matador Resources, with a strong footprint in liquids-rich Delaware Basin’s Wolfcamp and Bone Spring plays. The upstream player also operates in the prolific Eagle Ford shale play.
Stocks to Consider
A better-ranked stock worth considering in the energy space is Summit Midstream Partners, LP (SMLP - Free Report) , carrying a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The stock has seen upward earnings estimate revisions for 2020 in the past 60 days.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>