Wells Fargo & Company Cuts Matador Resources (NYSE:MTDR) Price Target to $76.00

Key Points

• Wells Fargo & Company has reduced its price target for Matador Resources from $77.00 to $76.00, maintaining an "overweight" rating on the stock.
• Despite the price target reduction, the target suggests a potential upside of 80.22% from the company's current trading price.
• Analysts show a generally positive outlook on the stock, with a consensus rating of "Moderate Buy" and an average price target of $66.50.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target dropped by analysts at Wells Fargo & Company from $77.00 to $76.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the energy company's stock. Wells Fargo & Company's target price suggests a potential upside of 80.22% from the company's current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Matador Resources in a report on Saturday, September 27th. Raymond James Financial increased their target price on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. William Blair began coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. Mizuho decreased their target price on shares of Matador Resources from $69.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Morgan Stanley increased their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $66.50.

Matador Resources Trading Down 5.6%

NYSE:MTDR opened at $42.17 on Monday. The stock has a 50-day simple moving average of $47.19 and a 200-day simple moving average of $46.39. The stock has a market cap of $5.25 billion, a P/E ratio of 6.17 and a beta of 1.41. Matador Resources has a 1 year low of $35.19 and a 1 year high of $64.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. As a group, analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP William Thomas Elsener purchased 600 shares of Matador Resources stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $48.46 per share, for a total transaction of $29,076.00. Following the transaction, the executive vice president owned 112,069 shares in the company, valued at approximately $5,430,863.74. The trade was a 0.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christopher P. Calvert purchased 1,000 shares of Matador Resources stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $47.77 per share, with a total value of $47,770.00. Following the completion of the transaction, the chief operating officer owned 37,500 shares in the company, valued at approximately $1,791,375. This trade represents a 2.74% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 11,380 shares of company stock worth $549,188. Company insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. MAI Capital Management lifted its holdings in shares of Matador Resources by 13.9% during the 2nd quarter. MAI Capital Management now owns 1,726 shares of the energy company's stock valued at $82,000 after acquiring an additional 210 shares in the last quarter. Beacon Pointe Advisors LLC lifted its holdings in shares of Matador Resources by 4.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company's stock valued at $252,000 after acquiring an additional 216 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Matador Resources by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company's stock valued at $246,000 after acquiring an additional 220 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Matador Resources by 0.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after acquiring an additional 244 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Matador Resources by 93.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. 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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