Wells Fargo & Company Cuts Matador Resources (NYSE:MTDR) Price Target to $87.00

Matador Resources (NYSE:MTDR) had its price target decreased by Wells Fargo & Company from $89.00 to $87.00 in a report issued on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Other analysts have also recently issued research reports about the company. Capital One Financial upgraded Matador Resources from an equal weight rating to an overweight rating and lifted their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Truist Financial cut their price target on Matador Resources from $86.00 to $75.00 and set a buy rating on the stock in a research report on Monday. Royal Bank of Canada reissued an outperform rating and issued a $75.00 price objective on shares of Matador Resources in a report on Friday, September 27th. Mizuho lowered their target price on shares of Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a research report on Monday, September 16th. Finally, Benchmark reiterated a buy rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $75.67.

Matador Resources Trading Up 4.5 %

MTDR opened at $53.43 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The company has a market cap of $6.67 billion, a P/E ratio of 7.32 and a beta of 3.27. The business’s 50-day simple moving average is $54.28 and its 200-day simple moving average is $59.92.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS 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 company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. During the same period in the prior year, the firm posted $1.42 earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts expect that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Buying and Selling

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction on 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 acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Bryan A. Erman purchased 1,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.35 per share, with a total value of $50,350.00. Following the purchase, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The disclosure for this purchase can be found here. Insiders have acquired 12,300 shares of company stock valued at $634,615 over the last quarter. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Goldman Sachs Group Inc. grew its position in shares of Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares during the last quarter. Element Capital Management LLC purchased a new stake in Matador Resources in the 1st quarter valued at approximately $28,572,000. Public Employees Retirement Association of Colorado grew its holdings in Matador Resources by 14,874.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after buying an additional 424,665 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after buying an additional 356,506 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Matador Resources by 44.8% in the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after acquiring an additional 329,522 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.