Matador Resources (NYSE:MTDR) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company cut shares of Matador Resources (NYSE:MTDR) from an overweight rating to an equal weight rating in a research report released on Tuesday morning, MarketBeat.com reports. Wells Fargo & Company currently has $47.00 target price on the energy company’s stock, down from their prior target price of $61.00.

Several other analysts have also weighed in on MTDR. Royal Bank Of Canada lowered their price objective on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Morgan Stanley reduced their price target on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Bank of America decreased their price target on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Citigroup initiated coverage on shares of Matador Resources in a report on Monday, December 8th. They set a “buy” rating and a $53.00 price objective on the stock. Finally, BMO Capital Markets restated an “outperform” rating on shares of Matador Resources in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $57.82.

Matador Resources Trading Up 1.9%

NYSE MTDR opened at $44.80 on Tuesday. The stock has a market capitalization of $5.57 billion, a P/E ratio of 7.16 and a beta of 1.09. The business has a 50 day simple moving average of $42.72 and a 200 day simple moving average of $44.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. Matador Resources has a one year low of $35.19 and a one year high of $60.54.

Insider Activity

In other Matador Resources news, EVP Robert T. Macalik purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of $38.25 per share, with a total value of $57,375.00. Following the transaction, the executive vice president owned 35,039 shares in the company, valued at $1,340,241.75. The trade was a 4.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christopher P. Calvert acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $39.44 per share, with a total value of $98,600.00. Following the completion of the acquisition, the chief operating officer directly owned 40,000 shares in the company, valued at approximately $1,577,600. This represents a 6.67% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 19,290 shares of company stock valued at $745,831. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of MTDR. Vanguard Group Inc. grew its stake in shares of Matador Resources by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock worth $664,105,000 after acquiring an additional 101,613 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Matador Resources by 4.2% during the third quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock worth $288,079,000 after purchasing an additional 259,299 shares during the last quarter. LSV Asset Management increased its stake in Matador Resources by 5.9% in the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock valued at $158,706,000 after buying an additional 197,528 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Matador Resources by 6.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,064,037 shares of the energy company’s stock worth $92,737,000 after buying an additional 129,863 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.