Wells Fargo & Company Lowers Matador Resources (NYSE:MTDR) Price Target to $86.00

Matador Resources (NYSE:MTDR) had its price objective cut by stock analysts at Wells Fargo & Company from $87.00 to $86.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 107.52% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Raymond James decreased their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Royal Bank of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their price target on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Finally, Truist Financial upped their price objective on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $73.29.

Matador Resources Stock Performance

NYSE:MTDR opened at $41.44 on Thursday. The firm has a 50-day moving average of $48.21 and a two-hundred day moving average of $53.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The stock has a market cap of $5.19 billion, a P/E ratio of 5.80 and a beta of 2.74. Matador Resources has a 1-year low of $35.19 and a 1-year high of $67.51.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. On average, research analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, Director Timothy E. Parker acquired 2,000 shares of Matador Resources stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the transaction, the director now owns 83,790 shares in the company, valued at approximately $3,742,899.30. This represents a 2.45 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Robert T. Macalik bought 1,200 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,000 shares in the company, valued at $1,487,380. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 21,350 shares of company stock worth $1,100,769. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Matador Resources by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock valued at $706,375,000 after purchasing an additional 187,633 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Matador Resources by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock valued at $306,313,000 after buying an additional 30,184 shares during the period. Alliancebernstein L.P. raised its position in shares of Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after buying an additional 555,245 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Matador Resources by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after acquiring an additional 36,921 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Matador Resources by 18.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock valued at $93,952,000 after acquiring an additional 258,958 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.