Royal Bank of Canada Reiterates Outperform Rating for Matador Resources (NYSE:MTDR)

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $70.00 target price on the energy company’s stock. Royal Bank of Canada’s price target points to a potential upside of 35.11% from the company’s current price.

A number of other research firms have also weighed in on MTDR. BMO Capital Markets upped their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wolfe Research assumed coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Truist Financial reduced their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.31.

Matador Resources Trading Down 1.1 %

Shares of MTDR stock opened at $51.81 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $52.74 and its 200-day moving average price is $58.20. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 6.86 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.63% and a net margin of 27.45%. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same period last year, the company earned $1.86 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Matador Resources will post 7.41 earnings per share for the current year.

Insider Transactions at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Matador Resources news, CFO Brian J. Willey acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the acquisition, the chief financial officer now owns 1,500 shares of the company’s stock, valued at approximately $75,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the 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 acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 12,300 shares of company stock valued at $634,615 in the last quarter. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of Matador Resources by 2.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock valued at $614,000 after buying an additional 294 shares in the last quarter. First Dallas Securities Inc. lifted its holdings in Matador Resources by 5.5% during the 1st quarter. First Dallas Securities Inc. now owns 11,119 shares of the energy company’s stock worth $742,000 after buying an additional 580 shares in the last quarter. Griffin Asset Management Inc. increased its position in Matador Resources by 7.3% in the first quarter. Griffin Asset Management Inc. now owns 73,534 shares of the energy company’s stock worth $4,910,000 after purchasing an additional 5,000 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Matador Resources during the first quarter worth approximately $200,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Matador Resources by 33.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 816,445 shares of the energy company’s stock worth $54,515,000 after acquiring an additional 204,285 shares during the period. 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.