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

Royal Bank of Canada reissued their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $70.00 target price on the energy company’s stock.

MTDR has been the subject of several other reports. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a 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 research note on Wednesday, July 24th. Stephens increased their price objective on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Mizuho decreased their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.31.

Matador Resources Stock Performance

NYSE:MTDR traded up $0.98 during trading hours on Thursday, reaching $53.38. The company had a trading volume of 714,054 shares, compared to its average volume of 1,512,880. The business’s 50 day moving average price is $52.83 and its 200-day moving average price is $58.32. The firm has a market cap of $6.66 billion, a PE ratio of 6.94 and a beta of 3.26. Matador Resources has a 1-year low of $47.15 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.

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

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Matador Resources’s dividend payout ratio (DPR) is 10.60%.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,500 shares of the stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the transaction, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at $2,011,342.47. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Joseph Wm Foran bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $49.97 per share, with a total value of $124,925.00. Following the purchase, the chief executive officer now owns 40,251 shares of the company’s stock, valued at $2,011,342.47. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the purchase, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 12,300 shares of company stock worth $634,615. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTDR. Denver PWM LLC purchased a new position in Matador Resources in the second quarter valued at about $27,000. Covestor Ltd raised its holdings 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 buying an additional 227 shares during the period. Quarry LP grew its stake in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after acquiring an additional 466 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after purchasing an additional 313 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

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.