Matador Resources (NYSE:MTDR) Rating Reiterated by Royal Bank of Canada

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $75.00 target price on the energy company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 51.94% from the stock’s previous close.

MTDR has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Wolfe Research began coverage on shares of Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial dropped their price objective on Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, TD Cowen lifted their target price on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.75.

Matador Resources Stock Performance

Shares of MTDR opened at $49.36 on Friday. The company has a market capitalization 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 quick ratio of 0.82 and a current ratio of 0.86. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company’s 50 day simple moving average is $54.97 and its 200 day simple moving average is $60.25.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.29. The business 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 earnings per share. On average, sell-side analysts predict that Matador Resources will post 7.63 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert Gaines Baty acquired 500 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Joseph Wm Foran acquired 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the acquisition, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Gaines Baty bought 500 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 12,300 shares of company stock valued at $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC raised its position in shares of Matador Resources by 0.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after purchasing an additional 169 shares in the last quarter. Securian Asset Management Inc. raised its holdings in Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after acquiring an additional 198 shares in the last quarter. Covestor Ltd boosted its stake in 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 acquiring an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after acquiring an additional 243 shares in the last quarter. Hedge funds and other 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.