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

Matador Resources (NYSE:MTDR) had its target price decreased by investment analysts at Wells Fargo & Company from $90.00 to $87.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 64.31% from the company’s current price.

Several other research firms have also issued reports on MTDR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Truist Financial upped their target price on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho decreased their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Morgan Stanley began coverage on Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price target on the stock. Finally, Raymond James decreased their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $73.93.

Matador Resources Stock Up 2.8 %

Shares of NYSE MTDR opened at $52.95 on Tuesday. Matador Resources has a 12-month low of $43.89 and a 12-month high of $71.08. The stock’s fifty day simple moving average is $55.21 and its two-hundred day simple moving average is $54.86. The stock has a market capitalization of $6.63 billion, a PE ratio of 7.42 and a beta of 3.17. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. As a group, analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran acquired 6,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the transaction, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. The trade was a 17.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy E. Parker bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the transaction, the director now directly owns 83,790 shares in the company, valued at approximately $3,742,899.30. This trade represents a 2.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 21,350 shares of company stock worth $1,100,769. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in Matador Resources by 118.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,012 shares of the energy company’s stock worth $1,295,000 after acquiring an additional 12,495 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Matador Resources during the 4th quarter worth about $7,529,000. American Trust lifted its stake in Matador Resources by 11.5% in the 4th quarter. American Trust now owns 6,280 shares of the energy company’s stock valued at $353,000 after buying an additional 650 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Matador Resources in the 4th quarter worth about $1,988,000. Finally, Neo Ivy Capital Management purchased a new stake in Matador Resources during the 4th quarter worth approximately $3,705,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.