Matador Resources (NYSE:MTDR) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research note released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $75.00 price objective on the energy company’s stock.

Several other equities research analysts have also recently commented on MTDR. Capital One Financial raised shares of Matador Resources from an equal weight rating to an overweight rating and raised their target price for the stock from $80.00 to $84.00 in a research report on Thursday. KeyCorp lifted their price objective on Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Wells Fargo & Company increased their target price on Matador Resources from $85.00 to $88.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Mizuho lifted their price target on Matador Resources from $83.00 to $85.00 and gave the company a buy rating in a research report on Friday, June 14th. Finally, Wolfe Research started coverage on Matador Resources in a report on Thursday, July 18th. They issued a peer perform rating for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of Moderate Buy and an average price target of $78.08.

Matador Resources Stock Performance

Matador Resources stock opened at $61.56 on Thursday. Matador Resources has a 1-year low of $51.72 and a 1-year high of $71.08. The firm has a market cap of $7.68 billion, a P/E ratio of 8.45 and a beta of 3.29. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $60.27 and a 200-day moving average of $61.29.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.29. The firm had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business’s revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. Sell-side analysts expect that Matador Resources will post 7.88 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, August 15th. Matador Resources’s payout ratio is 10.96%.

Insider Buying and Selling at Matador Resources

In other news, EVP Bryan A. Erman bought 1,750 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the purchase, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC increased its holdings in Matador Resources by 32.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 23,221 shares of the energy company’s stock worth $1,320,000 after buying an additional 5,747 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Matador Resources by 31.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock worth $5,237,000 after acquiring an additional 21,924 shares during the period. TFO Wealth Partners LLC raised its holdings in shares of Matador Resources by 310,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 15,551 shares of the energy company’s stock valued at $884,000 after purchasing an additional 15,546 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Matador Resources during the first quarter valued at approximately $828,000. Finally, Prevail Innovative Wealth Advisors LLC boosted its holdings in Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after purchasing an additional 8,254 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.