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Wells Fargo Keeps Their Hold Rating on Matador Resources (MTDR)

Tipranks - Tipranks - Wed Jul 1, 4:22AM CDT

Wells Fargo analyst Hanwen Chang maintained a Hold rating on Matador Resources yesterday and set a price target of $63.00. The company’s shares closed yesterday at $49.76.

End of Quarter Sale - 70% Off

According to TipRanks, Chang is a 3-star analyst with an average return of 4.6% and a 47.97% success rate. Chang covers the Energy sector, focusing on stocks such as EOG Resources, Devon Energy, and Ovintiv.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Matador Resources with a $70.24 average price target, a 41.16% upside from current levels. In a report released yesterday, Roth MKM also assigned a Hold rating to the stock with a $49.90 price target.

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Based on Matador Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $941.6 million and a GAAP net loss of $35.87 million. In comparison, last year the company earned a revenue of $1.01 billion and had a net profit of $240.09 million

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MTDR in relation to earlier this year. Earlier this month, Robert Gaines Baty, a Director at MTDR bought 500.00 shares for a total of $25,720.00.

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