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

Wells Fargo analyst Sam Margolin maintained a Hold rating on Matador Resources yesterday and set a price target of $63.00. The company’s shares closed yesterday at $50.18.

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Margolin covers the Energy sector, focusing on stocks such as BP, Chevron, and Marathon Petroleum. According to TipRanks, Margolin has an average return of 11.5% and a 66.44% success rate on recommended stocks.

Currently, the analyst consensus on Matador Resources is a Strong Buy with an average price target of $70.54, which is a 40.57% upside from current levels. In a report released on June 29, Morgan Stanley also maintained a Hold rating on the stock with a $66.00 price target.

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. Last month, Robert Gaines Baty, a Director at MTDR bought 500.00 shares for a total of $25,720.00.