Wells Fargo & Company Has Lowered Expectations for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price target lowered by stock analysts at Wells Fargo & Company from $86.00 to $80.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 91.68% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Friday, January 3rd. UBS Group started coverage on Matador Resources in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $47.00 target price on the stock. Raymond James decreased their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Matador Resources Price Performance

Shares of NYSE:MTDR traded up $0.67 on Monday, reaching $41.74. The company’s stock had a trading volume of 98,269 shares, compared to its average volume of 1,702,765. The company has a 50-day simple moving average of $46.56 and a 200 day simple moving average of $53.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The company has a market cap of $5.23 billion, a P/E ratio of 5.85 and a beta of 2.74. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. As a group, equities research analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $53.06 per share, with a total value of $53,060.00. Following the completion of the transaction, the executive vice president now owns 91,680 shares in the company, valued at $4,864,540.80. This represents a 1.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Van H. Singleton II acquired 2,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $53.21 per share, for a total transaction of $106,420.00. Following the transaction, the insider now owns 289,135 shares in the company, valued at approximately $15,384,873.35. The trade was a 0.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 21,350 shares of company stock worth $1,100,769. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Matador Resources

Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in shares of Matador Resources in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares during the period. TCTC Holdings LLC raised its stake in shares of Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in Matador Resources in the first quarter valued at approximately $28,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.