Wells Fargo & Company Raises Matador Resources (NYSE:MTDR) Price Target to $85.00

Matador Resources (NYSE:MTDR) had its price target raised by analysts at Wells Fargo & Company from $76.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 30.35% from the company’s previous close.

Several other research analysts have also weighed in on MTDR. Truist Financial increased their target price on shares of Matador Resources from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Roth Mkm reiterated a “buy” rating and issued a $66.00 price target on shares of Matador Resources in a research note on Monday, March 25th. Raymond James decreased their price target on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Mizuho raised their price objective on shares of Matador Resources from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and ten have issued 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 price target of $73.40.

Matador Resources Trading Down 0.7 %

Matador Resources stock traded down $0.44 during midday trading on Thursday, hitting $65.21. 530,401 shares of the stock were exchanged, compared to its average volume of 1,367,434. Matador Resources has a fifty-two week low of $42.04 and a fifty-two week high of $71.08. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 9.27 and a beta of 3.32. The stock’s 50-day simple moving average is $64.34 and its 200 day simple moving average is $59.83. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). The firm had revenue of $836.13 million for the quarter, compared to analyst estimates of $842.96 million. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. Matador Resources’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.08 earnings per share. On average, equities analysts anticipate that Matador Resources will post 7.04 EPS for the current year.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in Matador Resources by 5.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,398 shares of the energy company’s stock valued at $763,000 after buying an additional 738 shares during the last quarter. US Bancorp DE grew its position in Matador Resources by 2.1% in the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock valued at $635,000 after buying an additional 246 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Matador Resources by 28.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company’s stock valued at $804,000 after buying an additional 3,373 shares during the last quarter. MetLife Investment Management LLC grew its position in Matador Resources by 53.9% in the 1st quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company’s stock valued at $3,129,000 after buying an additional 20,684 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in Matador Resources in the 1st quarter valued at $214,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.