Matador Resources’ (MTDR) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $75.00 price target on the energy company’s stock.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $83.00 to $76.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. TD Cowen raised their target price on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Matador Resources in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Benchmark restated a buy rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. Finally, Capital One Financial raised Matador Resources from an equal weight rating to an overweight rating and lifted their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has an average rating of Moderate Buy and a consensus target price of $77.17.

Matador Resources Price Performance

NYSE MTDR opened at $52.20 on Friday. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. Matador Resources has a 1-year low of $48.22 and a 1-year high of $71.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. The business’s fifty day moving average price is $56.40 and its 200-day moving average price is $60.76.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period last year, the firm posted $1.42 earnings per share. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, equities analysts predict that Matador Resources will post 7.83 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC raised its position in shares of Matador Resources by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after buying an additional 169 shares in the last quarter. Securian Asset Management Inc. lifted its stake in shares of Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after purchasing an additional 198 shares during the period. Covestor Ltd increased its position in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after buying an additional 243 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.