Matador Resources (NYSE:MTDR) had its price target reduced by analysts at Wells Fargo & Co from $28.00 to $23.00 in a report released on Thursday, January 9th, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Co‘s target price suggests a potential upside of 33.57% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Northland Securities restated a “buy” rating and issued a $22.00 price target on shares of Matador Resources in a report on Wednesday, October 30th. Stifel Nicolaus set a $22.00 price target on shares of Matador Resources and gave the stock a “buy” rating in a report on Monday, September 30th. Williams Capital restated a “buy” rating and issued a $26.00 price target on shares of Matador Resources in a report on Wednesday, October 30th. ValuEngine upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Zacks Investment Research upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Matador Resources presently has a consensus rating of “Buy” and a consensus price target of $24.58.
NYSE:MTDR traded up $0.23 during trading hours on Thursday, hitting $17.22. 44,942 shares of the stock traded hands, compared to its average volume of 2,168,381. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 0.79. Matador Resources has a 1 year low of $12.16 and a 1 year high of $22.25. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.75 and a beta of 2.15. The stock has a 50 day moving average price of $16.68 and a 200 day moving average price of $16.10.
Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 29th. The energy company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. The company had revenue of $279.40 million for the quarter, compared to the consensus estimate of $227.69 million. Matador Resources had a net margin of 20.35% and a return on equity of 7.51%. Matador Resources’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Equities analysts forecast that Matador Resources will post 1.08 earnings per share for the current fiscal year.
In related news, CEO Joseph Wm Foran acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $14.30 per share, with a total value of $143,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik acquired 1,900 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $13.95 per share, with a total value of $26,505.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 33,250 shares of company stock valued at $468,854. Insiders own 6.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC grew its stake in shares of Matador Resources by 6,195.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,321,049 shares of the energy company’s stock worth $66,022,000 after purchasing an additional 3,268,293 shares during the period. Earnest Partners LLC acquired a new stake in Matador Resources in the 2nd quarter valued at $64,808,000. Invesco Ltd. grew its stake in Matador Resources by 236.5% in the 2nd quarter. Invesco Ltd. now owns 3,362,728 shares of the energy company’s stock valued at $66,850,000 after acquiring an additional 2,363,259 shares during the period. GW&K Investment Management LLC grew its stake in Matador Resources by 35.8% in the 3rd quarter. GW&K Investment Management LLC now owns 3,342,106 shares of the energy company’s stock valued at $55,245,000 after acquiring an additional 880,885 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Matador Resources by 71.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,892,662 shares of the energy company’s stock valued at $37,627,000 after acquiring an additional 786,687 shares during the period.
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 in 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.
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