Matador Resources (NYSE:MTDR) Price Target Increased to $89.00 by Analysts at Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its price target lifted by Wells Fargo & Company from $88.00 to $89.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 44.86% from the company’s previous close.

Several other research firms also recently issued reports on MTDR. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $84.00 in a report on Thursday. Stephens reduced their price target on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. KeyCorp raised their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $78.17.

Matador Resources Price Performance

Shares of MTDR opened at $61.44 on Monday. The firm has a 50-day simple moving average of $60.26 and a two-hundred day simple moving average of $61.42. The stock has a market cap of $7.67 billion, a PE ratio of 8.42 and a beta of 3.29. Matador Resources has a 1-year low of $51.72 and a 1-year high of $71.08. 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 posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. During the same quarter last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. As a group, analysts forecast that Matador Resources will post 7.93 EPS for the current year.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP Bryan A. Erman purchased 1,750 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the completion of the acquisition, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at approximately $97,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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. Essex Investment Management Co. LLC increased its position in shares of Matador Resources by 0.5% during 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. lifted its stake 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 valued at $552,000 after buying an additional 170 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of Matador Resources by 5.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock valued at $221,000 after acquiring an additional 195 shares during the period. Raymond James Trust N.A. grew its position in shares of Matador Resources by 3.6% during the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after acquiring an additional 198 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after acquiring an additional 227 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.