Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Matador Resources (NYSE:MTDR) had its target price hoisted by equities researchers at Wells Fargo & Company from $87.00 to $91.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 65.67% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. KeyCorp reduced their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Friday, December 6th. Stephens increased their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Mizuho dropped their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.31.

Matador Resources Trading Down 2.2 %

MTDR traded down $1.24 during trading on Tuesday, hitting $54.93. 61,526 shares of the company’s stock were exchanged, compared to its average volume of 1,491,649. The firm has a market cap of $6.85 billion, a P/E ratio of 7.27 and a beta of 3.26. The stock has a 50 day moving average price of $55.53 and a 200 day moving average price of $56.27. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same period in the prior year, the firm posted $1.86 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that Matador Resources will post 7.49 EPS for the current fiscal year.

Insider Activity

In related news, EVP William Thomas Elsener bought 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the acquisition, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 4,285 shares of company stock worth $232,849. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Victory Capital Management Inc. boosted its stake in Matador Resources by 2.7% during the third quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after buying an additional 72,077 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after buying an additional 214,334 shares in the last quarter. Geode Capital Management LLC increased its holdings in Matador Resources by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after buying an additional 36,921 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Matador Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock valued at $70,914,000 after buying an additional 57,254 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.