Matador Resources (NYSE:MTDR) Stock Rating Lowered by Wells Fargo & Company

Matador Resources (NYSE:MTDR) was downgraded by stock analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, MarketBeat Ratings reports. They presently have a $47.00 price objective on the energy company’s stock, down from their prior price objective of $61.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 6.82% from the stock’s previous close.

Several other analysts have also commented on MTDR. KeyCorp reaffirmed an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. Citigroup initiated coverage on Matador Resources in a research note on Monday, December 8th. They issued a “buy” rating and a $53.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a research report on Thursday, December 18th. Finally, Royal Bank Of Canada lowered their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.82.

Matador Resources Stock Up 1.5%

MTDR stock opened at $44.00 on Tuesday. The stock has a market cap of $5.47 billion, a P/E ratio of 7.03 and a beta of 1.09. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. The stock’s fifty day simple moving average is $42.64 and its two-hundred day simple moving average is $44.69. Matador Resources has a 1-year low of $35.19 and a 1-year high of $60.54.

Insider Transactions at Matador Resources

In related news, Director Susan M. Ward acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $39.04 per share, for a total transaction of $195,200.00. Following the purchase, the director owned 14,923 shares in the company, valued at $582,593.92. This trade represents a 50.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert T. Macalik bought 1,500 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was bought at an average price of $38.25 per share, with a total value of $57,375.00. Following the purchase, the executive vice president owned 35,039 shares in the company, valued at $1,340,241.75. This trade represents a 4.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 22,907 shares of company stock valued at $888,209. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently added to or reduced their stakes in MTDR. M&T Bank Corp boosted its position in shares of Matador Resources by 19.7% during the 4th quarter. M&T Bank Corp now owns 10,173 shares of the energy company’s stock valued at $432,000 after acquiring an additional 1,672 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Matador Resources by 17.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 233,212 shares of the energy company’s stock valued at $9,898,000 after purchasing an additional 35,366 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Matador Resources by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,284 shares of the energy company’s stock valued at $1,497,000 after purchasing an additional 1,551 shares during the last quarter. Bayforest Capital Ltd grew its stake in Matador Resources by 6,753.3% in the 4th quarter. Bayforest Capital Ltd now owns 5,140 shares of the energy company’s stock worth $218,000 after buying an additional 5,065 shares in the last quarter. Finally, GF Fund Management CO. LTD. increased its holdings in shares of Matador Resources by 9.5% in the 4th quarter. GF Fund Management CO. LTD. now owns 34,584 shares of the energy company’s stock worth $1,468,000 after buying an additional 2,999 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

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.