Matador Resources (NYSE:MTDR) Price Target Cut to $87.00 by Analysts at Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its price target decreased by investment analysts at Wells Fargo & Company from $90.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 64.31% from the stock’s previous close.

MTDR has been the subject of several other reports. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Friday, January 3rd. Truist Financial raised their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. TD Cowen increased their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.93.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $52.95 on Tuesday. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 7.42 and a beta of 3.17. Matador Resources has a 52 week low of $43.89 and a 52 week high of $71.08. The firm has a 50-day simple moving average of $55.21 and a 200-day simple moving average of $54.86. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

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

Insider Activity at Matador Resources

In related news, CAO Robert T. Macalik bought 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. This trade represents a 4.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 6,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the purchase, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 21,350 shares of company stock worth $1,100,769. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Large investors have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Matador Resources in the 4th quarter valued at $25,000. TCTC Holdings LLC increased its stake in shares of Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after acquiring an additional 175 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after purchasing an additional 207 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Matador Resources by 359.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares during the period. Hedge funds and other 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.