Matador Resources Company (MTDR)
Matador Resources Company, an independent energy company, is engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States. The company is headquartered in Dallas, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 3.79% per annum.
- MTDR price at the close of December 2, 2024 was $58.89 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 27.49% per annum.
- MTDR price at the close of December 2, 2024 was higher than the top border of the secondary price channel by $0.60 (1.04%). This indicates a possible reversal in the secondary trend direction.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of MTDR price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: February 24, 2022
End date: December 2, 2024
a = 3.8799
b = 0.0001
s = 0.1092
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 3.79%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1092) – 1
= 54.78%
February 24, 2022 calculations
Top border of price channel:
Exp(Y561)
= Exp(a + b × X561 + 2 × s)
= Exp(a + b × 814 + 2 × s)
= Exp(3.8799 + 0.0001 × 814 + 2 × 0.1092)
= Exp(4.1813)
= $65.45
Bottom border of price channel:
Exp(Y561)
= Exp(a + b × X561 – 2 × s)
= Exp(a + b × 814 – 2 × s)
= Exp(3.8799 + 0.0001 × 814 – 2 × 0.1092)
= Exp(3.7445)
= $42.29
December 2, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.8799 + 0.0001 × 1,826 + 2 × 0.1092)
= Exp(4.2845)
= $72.57
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.8799 + 0.0001 × 1,826 – 2 × 0.1092)
= Exp(3.8477)
= $46.88
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 3.79% per annum.
- MTDR price at the close of December 2, 2024 was $58.89 and was inside the primary price channel.
Secondary Trend
Start date: February 28, 2024
End date: December 2, 2024
a = 5.5536
b = -0.0009
s = 0.0599
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0009) – 1
= -27.49%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0599) – 1
= 27.09%
February 28, 2024 calculations
Top border of price channel:
Exp(Y1,065)
= Exp(a + b × X1,065 + 2 × s)
= Exp(a + b × 1,548 + 2 × s)
= Exp(5.5536 + -0.0009 × 1,548 + 2 × 0.0599)
= Exp(4.3102)
= $74.45
Bottom border of price channel:
Exp(Y1,065)
= Exp(a + b × X1,065 – 2 × s)
= Exp(a + b × 1,548 – 2 × s)
= Exp(5.5536 + -0.0009 × 1,548 – 2 × 0.0599)
= Exp(4.0705)
= $58.59
December 2, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(5.5536 + -0.0009 × 1,826 + 2 × 0.0599)
= Exp(4.0654)
= $58.29
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(5.5536 + -0.0009 × 1,826 – 2 × 0.0599)
= Exp(3.8257)
= $45.86
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 27.49% per annum.
- MTDR price at the close of December 2, 2024 was higher than the top border of the secondary price channel by $0.60 (1.04%). This indicates a possible reversal in the secondary trend direction.