Matador Resources (NYSE:MTDR) Price Target Lowered to $86.00 at Wells Fargo & Company

Matador Resources (NYSE:MTDR - Get Free Report) had its target price reduced by stock analysts at Wells Fargo & Company from $87.00 to $86.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. Wells Fargo & Company's price target points to a potential upside of 109.65% from the stock's previous close.

Other analysts have also issued reports about the stock. Benchmark reaffirmed a "buy" rating and set a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. Morgan Stanley lowered their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. TD Cowen increased their target price on Matador Resources from $74.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Wolfe Research upgraded 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. Finally, Stephens reduced their price objective on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. 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 currently has a consensus rating of "Moderate Buy" and an average price target of $70.73.

Matador Resources Price Performance

Matador Resources stock traded up $0.99 during midday trading on Thursday, hitting $41.02. The company's stock had a trading volume of 1,543,802 shares, compared to its average volume of 1,557,263. Matador Resources has a 12 month low of $35.19 and a 12 month high of $67.51. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average price is $47.88 and its 200-day moving average price is $53.72. The company has a market capitalization of $5.14 billion, a PE ratio of 5.75 and a beta of 2.74.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). The business had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Christopher P. Calvert bought 1,300 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $55.17 per share, for a total transaction of $71,721.00. Following the acquisition, the chief operating officer now directly owns 34,000 shares of the company's stock, valued at $1,875,780. The trade was a 3.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran purchased 6,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost 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 of the company's stock, valued at $2,124,103.26. The trade was a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 21,350 shares of company stock valued at $1,100,769 over the last quarter. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the stock. TCTC Holdings LLC lifted its stake in shares of Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock valued at $29,000 after purchasing an additional 207 shares during the period. Atria Investments Inc raised its stake in shares of Matador Resources by 3.1% in the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock valued at $461,000 after purchasing an additional 249 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after buying an additional 256 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Matador Resources by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock valued at $1,936,000 after buying an additional 280 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.