Wells Fargo & Company Trims Matador Resources (NYSE:MTDR) Target Price to $87.00

Matador Resources (NYSE:MTDR) had its price target trimmed by Wells Fargo & Company from $89.00 to $87.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

A number of other research analysts also recently issued reports on MTDR. TD Cowen boosted their price target on Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a report on Wednesday, July 24th. Truist Financial reduced their target price on Matador Resources from $86.00 to $75.00 and set a buy rating on the stock in a research note on Monday. Royal Bank of Canada reiterated an outperform rating and issued a $75.00 price target on shares of Matador Resources in a report on Friday, September 27th. Capital One Financial raised shares of Matador Resources from an equal weight rating to an overweight rating and boosted their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Finally, Wolfe Research started coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $75.67.

Matador Resources Trading Up 2.2 %

NYSE MTDR opened at $50.49 on Tuesday. The stock has a 50-day moving average of $54.70 and a 200-day moving average of $60.09. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The firm has a market cap of $6.30 billion, a PE ratio of 6.92 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same quarter last year, the firm earned $1.42 EPS. The company’s revenue was up 32.8% on a year-over-year basis. As a group, sell-side analysts forecast that Matador Resources will post 7.63 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s payout ratio is currently 10.96%.

Insiders Place Their Bets

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bryan A. Erman acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the transaction, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,300 shares of company stock worth $634,615. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of MTDR. Janney Montgomery Scott LLC purchased a new position in Matador Resources during the first quarter valued at $828,000. Prevail Innovative Wealth Advisors LLC grew its stake in shares of Matador Resources by 28.6% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock valued at $2,481,000 after acquiring an additional 8,254 shares during the period. Burford Brothers Inc. purchased a new stake in Matador Resources in the 4th quarter worth approximately $1,535,000. Goldman Sachs Group Inc. increased its holdings in Matador Resources by 31.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after acquiring an additional 531,504 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Matador Resources by 1,029.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock worth $5,077,000 after acquiring an additional 69,298 shares during the period. 91.98% of the stock is owned by institutional investors.

About Matador Resources

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.