Wells Fargo & Company Increases Matador Resources (NYSE:MTDR) Price Target to $63.00

Matador Resources (NYSE:MTDR) had its price objective increased by equities research analysts at Wells Fargo & Company from $54.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.44% from the stock’s current price.

Several other brokerages have also weighed in on MTDR. Roth Mkm reaffirmed a “neutral” rating and issued a $65.00 target price (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. Truist Financial started coverage on Matador Resources in a research note on Tuesday, March 24th. They issued a “hold” rating and a $60.00 price objective on the stock. UBS Group boosted their target price on Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Citigroup raised their price target on shares of Matador Resources from $62.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley reduced their price target on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.62.

Matador Resources Trading Down 0.5%

Shares of MTDR stock opened at $57.05 on Thursday. The firm’s 50-day simple moving average is $55.61 and its 200-day simple moving average is $46.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. Matador Resources has a 1-year low of $37.14 and a 1-year high of $66.84. The firm has a market cap of $7.09 billion, a P/E ratio of 9.35 and a beta of 0.91.

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

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Investment Management LLC grew its position in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Rothschild Investment LLC boosted its position in Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after buying an additional 652 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources during the third quarter valued at about $35,000. Gilpin Wealth Management LLC acquired a new stake in shares of Matador Resources during the fourth quarter valued at about $42,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after acquiring an additional 690 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

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.