Wells Fargo & Company Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price dropped by equities researchers at Wells Fargo & Company from $90.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 66.50% from the stock’s current price.

A number of other research analysts have also commented on MTDR. Truist Financial boosted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Friday, January 17th. Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Friday, January 3rd. Morgan Stanley began coverage on shares of Matador Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Finally, Mizuho dropped their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.50.

Matador Resources Stock Performance

NYSE:MTDR opened at $52.25 on Tuesday. The business’s fifty day moving average is $54.78 and its 200 day moving average is $54.86. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 7.32 and a beta of 3.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a 52-week low of $43.89 and a 52-week high of $71.08.

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

Insider Activity

In other news, CEO Joseph Wm Foran bought 6,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Robert T. Macalik bought 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the purchase, the chief accounting officer now directly owns 31,000 shares of the company’s stock, valued at $1,487,380. The trade was a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 21,350 shares of company stock valued at $1,100,769. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of large investors have recently made changes to their positions in MTDR. Vanguard Group Inc. lifted its stake in Matador Resources by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after acquiring an additional 187,633 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after purchasing an additional 30,184 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after purchasing an additional 555,245 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Matador Resources by 1.9% during the third 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, Massachusetts Financial Services Co. MA increased its position in shares of Matador Resources by 18.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock valued at $93,952,000 after buying an additional 258,958 shares during the period. 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.