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 report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $75.00 price target on the energy company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Capital One Financial raised shares of Matador Resources from an equal weight rating to an overweight rating and lifted their price target for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. TD Cowen boosted their target price on Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a research note on Wednesday, July 24th. 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. JPMorgan Chase & Co. decreased their price objective on Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a report on Thursday, September 12th. Finally, Benchmark reaffirmed a buy rating and set a $62.00 price objective on shares of Matador Resources in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $77.17.

Matador Resources Price Performance

Matador Resources stock opened at $52.20 on Friday. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. The firm’s fifty day moving average price is $56.40 and its two-hundred day moving average price is $60.73. Matador Resources has a 1-year low of $48.22 and a 1-year high of $71.08. 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 posted its earnings results 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. 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 analyst estimates of $822.55 million. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue was up 32.8% compared to the same quarter last year. On average, equities research analysts predict that Matador Resources will post 7.83 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, August 15th. Matador Resources’s payout ratio is currently 10.96%.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the transaction, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Matador Resources news, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $51.47 per share, with a total value of $128,675.00. Following the completion of the purchase, the chief executive officer now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. The disclosure for this purchase can be found here. In the last three months, insiders have bought 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in MTDR. Vanguard Group Inc. boosted its stake in Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after purchasing an additional 214,334 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Matador Resources by 31.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after buying an additional 531,504 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Matador Resources by 7.3% during the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock valued at $78,575,000 after buying an additional 79,920 shares during the last quarter. 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.