Matador Resources (NYSE:MTDR) Price Target Raised to $89.00

Matador Resources (NYSE:MTDR) had its price target raised by equities research analysts at Wells Fargo & Company from $88.00 to $89.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 44.86% from the stock’s current price.

Several other equities analysts have also weighed in on MTDR. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a report on Thursday. Truist Financial reduced their price target on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, July 24th. Wolfe Research initiated coverage on Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.17.

Matador Resources Trading Down 0.4 %

MTDR stock opened at $61.44 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a twelve month low of $51.72 and a twelve month high of $71.08. The company has a market cap of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. The business has a fifty day moving average of $60.26 and a 200-day moving average of $61.42.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same period last year, the company earned $1.42 earnings per share. The company’s revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts expect that Matador Resources will post 7.93 EPS for the current year.

Insider Activity

In other Matador Resources news, EVP Bryan A. Erman bought 1,750 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $55.90 per share, with a total value of $97,825.00. Following the completion of the transaction, the executive vice president now owns 1,750 shares in the company, valued at $97,825. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Matador Resources by 32.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 23,221 shares of the energy company’s stock valued at $1,320,000 after purchasing an additional 5,747 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Matador Resources by 31.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock valued at $5,237,000 after acquiring an additional 21,924 shares in the last quarter. TFO Wealth Partners LLC increased its position in Matador Resources by 310,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 15,551 shares of the energy company’s stock worth $884,000 after acquiring an additional 15,546 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Matador Resources in the 1st quarter worth about $828,000. Finally, Prevail Innovative Wealth Advisors LLC raised its stake in Matador Resources by 28.6% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after purchasing an additional 8,254 shares in the last quarter. 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.