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

Matador Resources (NYSE:MTDR) had its target price reduced by analysts at Wells Fargo & Company from $89.00 to $87.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 72.55% from the stock’s previous close.

A number of other brokerages also recently weighed in on MTDR. Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a research report on Friday. Wolfe Research assumed coverage on Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.67.

Matador Resources Stock Up 2.0 %

MTDR traded up $1.00 during midday trading on Tuesday, reaching $50.42. 1,027,000 shares of the company were exchanged, compared to its average volume of 1,508,576. Matador Resources has a one year low of $47.15 and a one year high of $71.08. 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 company’s fifty day moving average price is $54.70 and its 200 day moving average price is $60.09. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 6.90 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating 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 the consensus estimate of $822.55 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. As a group, analysts expect that Matador Resources will post 7.63 EPS for the current year.

Insider Buying and Selling

In related news, EVP Bryan A. Erman acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $50.35 per share, with a total value of $50,350.00. Following the acquisition, the executive vice president now owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at $2,011,342.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan A. Erman purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now directly owns 2,750 shares in the company, valued at $138,462.50. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 12,300 shares of company stock valued at $634,615. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the last quarter. Denver PWM LLC purchased a new position in shares of Matador Resources during the 2nd quarter valued at about $27,000. Rise Advisors LLC bought a new stake in Matador Resources in the 1st quarter worth approximately $34,000. Advisors Asset Management Inc. boosted its stake in Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares in the last quarter. Finally, Quarry LP grew its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the last quarter. 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.