Wells Fargo & Company Raises Matador Resources (NYSE:MTDR) Price Target to $85.00

Matador Resources (NYSE:MTDR) had its target price raised by Wells Fargo & Company from $76.00 to $85.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 30.35% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Roth Mkm reiterated a “buy” rating and set a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research note on Tuesday, March 5th. Raymond James reduced their price objective on Matador Resources from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, January 8th. KeyCorp lowered their target price on shares of Matador Resources from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Finally, Benchmark reduced their price target on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.40.

Matador Resources Stock Down 0.7 %

NYSE MTDR traded down $0.44 on Thursday, reaching $65.21. The company had a trading volume of 530,401 shares, compared to its average volume of 1,367,434. The firm has a market capitalization of $7.79 billion, a PE ratio of 9.27 and a beta of 3.32. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08. The firm has a 50-day moving average of $64.34 and a 200-day moving average of $59.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, February 21st. The energy company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.05). The business had revenue of $836.13 million for the quarter, compared to analysts’ expectations of $842.96 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 earnings per share. On average, equities research analysts anticipate that Matador Resources will post 7.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. grew its stake in Matador Resources by 5.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after buying an additional 195 shares during the last quarter. Great Lakes Advisors LLC grew its stake in Matador Resources by 1.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 13,851 shares of the energy company’s stock worth $824,000 after buying an additional 196 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in Matador Resources by 2.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,910 shares of the energy company’s stock worth $396,000 after buying an additional 197 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in Matador Resources by 3.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock worth $414,000 after acquiring an additional 201 shares during the period. 91.98% of the stock is currently owned by institutional investors.

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.