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

Matador Resources (NYSE:MTDR) had its price objective cut by Wells Fargo & Company from $89.00 to $87.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 70.05% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Truist Financial cut their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $75.00 target price on shares of Matador Resources in a research report on Friday, September 27th. TD Cowen increased their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a report on Wednesday, July 24th. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.67.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $51.16 on Tuesday. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 6.98 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a 50 day moving average price of $54.49 and a 200-day moving average price of $59.98. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same period in the previous year, the firm earned $1.42 earnings per share. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. Equities analysts expect that Matador Resources will post 7.63 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in Matador Resources during the first quarter valued at about $828,000. Prevail Innovative Wealth Advisors LLC raised its holdings in Matador Resources by 28.6% in the first 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. Burford Brothers Inc. purchased a new stake in shares of Matador Resources during the fourth quarter valued at about $1,535,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $125,435,000 after buying an additional 531,504 shares in the last quarter. Finally, Capstone Investment Advisors LLC boosted its holdings in shares of Matador Resources by 1,029.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock valued at $5,077,000 after buying an additional 69,298 shares in the last quarter. 91.98% of the stock is 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.