Shares of Matador Resources Company (MTDR) are rising more than 11% Tuesday morning after the energy company said, Moody’s upgraded its Corporate Family Rating (CFR) to B2 from B3, Probability of Default Rating to B2-PD from B3-PD and senior unsecured notes to B3 from Caa1. The rating outlook has been revised to “Stable.”
The company plans to release second-quarter results on July 28. On average, 17 analysts polled by Thomson Reuters expect the company report loss of $0.15 per share on revenue of $162.01 million for the quarter.
MTDR is currently trading at $9.69. It has traded in the range of $1.11- $19.82 in the last one year.
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