Matador Resources (NYSE:MTDR) Stock Gets Price Target Reduction from Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its price target lowered by Wells Fargo & Company from $77.00 to $76.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

Other equities research analysts also recently issued research reports about the stock. Stephens increased their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Morgan Stanley decreased their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Weiss Ratings raised Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Citigroup lowered their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, KeyCorp boosted their price objective on shares of Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.81.

Matador Resources Stock Up 6.9%

Shares of NYSE MTDR opened at $57.47 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The business has a 50-day moving average price of $55.91 and a 200 day moving average price of $55.32. The stock has a market cap of $7.11 billion, a PE ratio of 9.86 and a beta of 0.98.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The company’s revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 earnings per share. Equities research analysts forecast that Matador Resources will post 7.72 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th were issued a $0.3750 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. Matador Resources’s dividend payout ratio (DPR) is 25.73%.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Foran purchased 555 shares of the stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average cost of $54.49 per share, with a total value of $30,241.95. Following the purchase, the chief executive officer directly owned 4,772 shares in the company, valued at $260,026.28. This trade represents a 13.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher P. Calvert purchased 2,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $56.64 per share, with a total value of $141,600.00. Following the acquisition, the chief financial officer directly owned 44,000 shares in the company, valued at approximately $2,492,160. This represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 23,144 shares of company stock valued at $1,211,793. 5.90% of the stock is owned by company insiders.

Institutional Trading of Matador Resources

A number of institutional investors have recently added to or reduced their stakes in MTDR. Allworth Financial LP increased its holdings in Matador Resources by 16.1% in the second quarter. Allworth Financial LP now owns 1,270 shares of the energy company’s stock valued at $63,000 after buying an additional 176 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares in the last quarter. Burford Brothers Inc. boosted its stake in shares of Matador Resources by 0.8% during the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock worth $1,693,000 after acquiring an additional 225 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Matador Resources by 4.4% in the 2nd quarter. HB Wealth Management LLC now owns 6,870 shares of the energy company’s stock worth $342,000 after acquiring an additional 292 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Matador Resources by 1.3% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 23,240 shares of the energy company’s stock worth $1,468,000 after acquiring an additional 304 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

More Matador Resources News

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Truist raised its price target to $65, indicating additional upside from recent trading levels and reinforcing its constructive view of Matador Resources. Truist lifts target for Matador Resources stock to USD 65.00
• Positive Sentiment: Morgan Stanley increased its target from $66 to $69 while maintaining an “equal weight” rating. The higher valuation target suggests improved expectations, despite the firm’s neutral stance. Morgan Stanley raises Matador Resources price target
• Positive Sentiment: Wells Fargo issued a “buy” rating on MTDR, adding another bullish analyst endorsement and potentially supporting investor sentiment. Wells Fargo issues a buy rating on Matador Resources
• Neutral Sentiment: Scotiabank initiated coverage with a “sector perform” rating and a $59 target. The target implies limited upside and indicates the bank expects Matador to perform broadly in line with its industry peers. Scotiabank initiates coverage on Matador Resources
• Negative Sentiment: A separate Wells Fargo report presented a pessimistic stock-price forecast, creating conflicting signals with the firm’s reported buy rating. This inconsistency could increase uncertainty around the near-term analyst outlook. Wells Fargo issues pessimistic forecast for Matador Resources

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.

The company’s main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.