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

Royal Bank of Canada reiterated their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research report report published on Friday morning, Benzinga reports. They currently have a $75.00 price objective on the energy company’s stock.

MTDR has been the topic of several other research reports. Benchmark reissued a buy rating and set a $62.00 price target on shares of Matador Resources in a research note on Wednesday, July 24th. Capital One Financial raised Matador Resources from an equal weight rating to an overweight rating and upped their target price for the company from $80.00 to $84.00 in a report on Thursday, July 25th. Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an outperform rating for the company in a research note on Monday, September 16th. Truist Financial decreased their price objective on shares of Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Finally, Wells Fargo & Company raised their target price on shares of Matador Resources from $88.00 to $89.00 and gave the company an overweight rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources currently has an average rating of Moderate Buy and an average price target of $75.83.

Matador Resources Stock Up 0.1 %

Shares of NYSE:MTDR opened at $49.41 on Friday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $54.70 and its 200-day simple moving average is $60.09. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 6.77 and a beta of 3.27.

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

Matador Resources Dividend Announcement

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

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the purchase, the chief executive officer now owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian J. Willey purchased 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the purchase, the chief financial officer now owns 1,500 shares of the company’s stock, valued at $75,750. The disclosure for this purchase can be found here. Insiders have acquired 12,300 shares of company stock worth $634,615 over the last quarter. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Denver PWM LLC acquired a new position in shares of Matador Resources in the 2nd quarter valued at about $27,000. Covestor Ltd lifted its position in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares in the last quarter. Rise Advisors LLC acquired a new position in Matador Resources during the first quarter valued at approximately $34,000. Lindbrook Capital LLC increased its position in shares of Matador Resources by 84.3% in the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after acquiring an additional 273 shares in the last quarter. Finally, Quarry LP increased its position in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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.