Matador Resources (NYSE:MTDR) Downgraded to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company cut shares of Matador Resources (NYSE:MTDR) from an overweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have $47.00 target price on the energy company’s stock, down from their previous target price of $61.00.

Other analysts also recently issued research reports about the stock. Raymond James Financial reissued an “outperform” rating and issued a $55.00 price objective (down previously from $63.00) on shares of Matador Resources in a research note on Monday, October 20th. KeyCorp reissued an “overweight” rating on shares of Matador Resources in a research note on Friday, December 19th. Morgan Stanley cut their price objective on 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. Royal Bank Of Canada reduced 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Matador Resources Stock Up 1.9%

Shares of MTDR opened at $43.38 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $42.58 and a 200 day moving average of $44.69. The company has a market cap of $5.39 billion, a PE ratio of 6.93 and a beta of 1.09. Matador Resources has a 52-week low of $35.19 and a 52-week high of $60.91.

Insiders Place Their Bets

In other Matador Resources news, insider Van H. Singleton II bought 1,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $39.46 per share, for a total transaction of $39,460.00. Following the acquisition, the insider directly owned 292,418 shares in the company, valued at approximately $11,538,814.28. The trade was a 0.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Shelley F. Appel bought 1,389 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average cost of $38.01 per share, for a total transaction of $52,795.89. Following the transaction, the director directly owned 5,084 shares in the company, valued at approximately $193,242.84. This trade represents a 37.59% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 37,346 shares of company stock worth $1,463,396. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MTDR. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Matador Resources by 298.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after buying an additional 400 shares during the period. Kestra Investment Management LLC raised its position in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Matador Resources by 182.0% during the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after purchasing an additional 364 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Matador Resources during the second quarter valued at about $29,000. Finally, Rothschild Investment LLC grew its stake in Matador Resources by 5,927.3% in the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 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.