Wells Fargo analyst Hanwen Chang assigned a Buy rating to Matador Resources (MTDR – Research Report) yesterday and set a price target of $85.00. The company’s shares closed yesterday at $65.65.
According to TipRanks, Chang is a 4-star analyst with an average return of 16.2% and a 76.47% success rate. Chang covers the Energy sector, focusing on stocks such as Magnolia Oil & Gas, Matador Resources, and SM Energy.
In addition to Wells Fargo, Matador Resources also received a Buy from J.P. Morgan’s Zach Parham in a report issued on April 11. However, on the same day, Capital One Financial maintained a Hold rating on Matador Resources (NYSE: MTDR).
Based on Matador Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $772.29 million and a net profit of $263.74 million. In comparison, last year the company earned a revenue of $840.93 million and had a net profit of $337.57 million
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Matador Resources (MTDR) Company Description:
Matador Resources Co. is a holding company engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration & Production; and Midstream. The Exploration & Production segment is engaged in the acquisition, exploration and development of oil and natural gas properties and is currently focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. The Midstream segment conducts midstream operations in support of the company’s exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and salt water gathering services and salt water disposal services to third parties. The company was founded by Joseph William Foran and Scott E. King in July 2003 and is headquartered in Dallas, TX.
