Wells Fargo & Company Forecasts Strong Price Appreciation for Matador Resources (NYSE:MTDR) Stock

Matador Resources (NYSE:MTDR) had its price target hoisted by stock analysts at Wells Fargo & Company from $47.00 to $54.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 5.65% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Morgan Stanley lowered their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. Mizuho lifted their price objective on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Royal Bank Of Canada cut their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Finally, BMO Capital Markets increased their target price on Matador Resources from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.92.

Matador Resources Stock Up 0.2%

Shares of NYSE MTDR traded up $0.10 during trading on Monday, reaching $57.23. 176,280 shares of the stock were exchanged, compared to its average volume of 1,928,692. The business’s 50-day moving average price is $47.54 and its 200 day moving average price is $44.97. Matador Resources has a twelve month low of $35.19 and a twelve month high of $58.32. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 9.38 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The business had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. During the same period in the prior year, the firm earned $1.83 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. Kestra Investment Management LLC lifted its stake in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Allworth Financial LP boosted its holdings in Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after purchasing an additional 364 shares during the period. Rothschild Investment LLC increased its stake in Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Matador Resources during the third quarter valued at $35,000. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.