Matador Resources (NYSE:MTDR) Price Target Lowered to $80.00 at Wells Fargo & Company

Matador Resources (NYSE:MTDR - Get Free Report) had its price objective lowered by investment analysts at Wells Fargo & Company from $86.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the energy company's stock. Wells Fargo & Company's target price would indicate a potential upside of 91.68% from the company's previous close.

MTDR has been the subject of several other reports. Benchmark restated a "buy" rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Raymond James dropped their price target 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. KeyCorp dropped their target price on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wolfe Research upgraded Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Friday, January 3rd. Finally, Royal Bank of Canada reduced their target price on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.33.

Matador Resources Price Performance

MTDR stock traded up $0.67 during mid-day trading on Monday, hitting $41.74. 98,269 shares of the stock were exchanged, compared to its average volume of 1,702,765. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 5.85 and a beta of 2.74. The business has a fifty day moving average price of $46.56 and a 200 day moving average price of $53.36. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. On average, sell-side analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources declared that its board has authorized a share buyback plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Matador Resources

In other Matador Resources news, insider Van H. Singleton II purchased 2,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $53.21 per share, for a total transaction of $106,420.00. Following the purchase, the insider now owns 289,135 shares of the company's stock, valued at approximately $15,384,873.35. This represents a 0.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert T. Macalik acquired 1,200 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,000 shares of the company's stock, valued at approximately $1,487,380. This represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 21,350 shares of company stock worth $1,100,769. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company's stock valued at $54,122,000 after buying an additional 107,827 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Matador Resources by 16.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock valued at $8,088,000 after acquiring an additional 20,172 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock worth $83,916,000 after purchasing an additional 56,644 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Matador Resources by 49.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company's stock valued at $16,895,000 after purchasing an additional 99,711 shares during the last quarter. Finally, Shaker Investments LLC OH purchased a new position in shares of Matador Resources during the fourth quarter valued at about $546,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.

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