Matador Resources (NYSE:MTDR) Receives “Outperform” Rating from Royal Bank of Canada

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

A number of other analysts also recently commented on MTDR. Mizuho dropped their target price on shares of Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a research report on Thursday, September 12th. Benchmark reissued a buy rating and set a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, July 24th. TD Cowen boosted their target price on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price target on Matador Resources from $88.00 to $89.00 and gave the stock an overweight rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Matador Resources has an average rating of Moderate Buy and an average target price of $76.75.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $49.37 on Friday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 6.76 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The stock’s 50 day moving average price is $54.97 and its 200 day moving average price is $60.29.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. Equities research analysts anticipate that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Buying and Selling

In other news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Matador Resources news, CFO Brian J. Willey bought 1,500 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $50.50 per share, with a total value of $75,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at approximately $75,750. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTDR. Covestor Ltd boosted its position in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the period. Denver PWM LLC bought a new stake in shares of Matador Resources during the 2nd quarter worth $27,000. Rise Advisors LLC acquired a new position in Matador Resources in the 1st quarter valued at $34,000. Lindbrook Capital LLC grew its stake in Matador Resources by 84.3% in the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after buying an additional 273 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after acquiring an additional 466 shares during the last quarter. Institutional investors and hedge funds 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.