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

Royal Bank of Canada restated their outperform rating on shares of Matador Resources (NYSE:MTDR) in a report published on Thursday morning, Benzinga reports. The firm currently has a $70.00 price objective on the energy company’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company cut their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Mizuho dropped their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.31.

Matador Resources Stock Performance

Matador Resources stock traded up $0.98 during midday trading on Thursday, reaching $53.38. 714,054 shares of the stock traded hands, compared to its average volume of 1,512,880. The firm has a fifty day moving average price of $52.83 and a two-hundred day moving average price of $58.32. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 6.94 and a beta of 3.26. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results 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 company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Matador Resources will post 7.41 earnings per share for the current year.

Matador Resources Increases Dividend

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

Insider Activity

In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,500 shares of the stock in a transaction on Monday, September 9th. The stock was bought at an average price 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 approximately $2,011,342.47. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 12,300 shares of company stock valued at $634,615. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Matador Resources by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock worth $614,000 after acquiring an additional 294 shares in the last quarter. First Dallas Securities Inc. boosted its holdings in shares of Matador Resources by 5.5% in the first quarter. First Dallas Securities Inc. now owns 11,119 shares of the energy company’s stock valued at $742,000 after buying an additional 580 shares during the period. Griffin Asset Management Inc. increased its position in shares of Matador Resources by 7.3% during the first quarter. Griffin Asset Management Inc. now owns 73,534 shares of the energy company’s stock worth $4,910,000 after acquiring an additional 5,000 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Matador Resources during the first quarter worth $200,000. Finally, Vaughan Nelson Investment Management L.P. increased 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 purchasing an additional 204,285 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.