Matador Resources (NYSE:MTDR) Price Target Cut to $87.00

Matador Resources (NYSE:MTDR) had its target price dropped by analysts at Wells Fargo & Company from $89.00 to $87.00 in a research report issued 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 72.55% from the company’s previous close.

Several other analysts also recently issued reports on MTDR. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a research note on Friday. Stephens boosted their target price on shares of Matador Resources from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. TD Cowen boosted their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial decreased their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.67.

Matador Resources Stock Performance

MTDR stock 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 firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 6.90 and a beta of 3.27. The business has a 50-day moving average price of $54.70 and a two-hundred day moving average price of $60.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Equities research analysts forecast that Matador Resources will post 7.63 EPS for the current year.

Insider Buying and Selling

In other news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Bryan A. Erman acquired 1,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at $138,462.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, with a total value of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders have bought 12,300 shares of company stock worth $634,615 in the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC increased its holdings in Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after purchasing an additional 169 shares in the last quarter. Securian Asset Management Inc. grew its holdings in Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares during the period. Raymond James Trust N.A. increased its stake in Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares in the last quarter. Covestor Ltd raised its holdings in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the period. Finally, Fifth Third Bancorp increased its position in Matador Resources by 16.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after buying an additional 243 shares in the last quarter. 91.98% of the stock is 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.