Matador Resources (NYSE:MTDR) Earns “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 released on Friday morning,Benzinga reports. They currently have a $70.00 target price on the energy company’s stock.

Several other analysts have also commented on the company. Benchmark reaffirmed a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. Truist Financial reduced their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Mizuho dropped their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Stephens lifted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. Finally, KeyCorp decreased their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus target price of $75.08.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $55.30 on Friday. The firm has a market cap of $6.90 billion, a P/E ratio of 7.32 and a beta of 3.26. The firm’s 50-day simple moving average is $55.00 and its 200-day simple moving average is $56.46. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS 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 20.01%. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter last year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date was Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is 13.25%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Gaines Baty bought 500 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average cost of $50.58 per share, with a total value of $25,290.00. Following the acquisition, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This trade represents a 0.74 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,805 shares of company stock worth $92,151. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MTDR. Denver PWM LLC bought a new stake in Matador Resources in the second quarter valued at about $27,000. True Wealth Design LLC bought a new position in Matador Resources during the third quarter worth about $37,000. Quarry LP grew its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Avior Wealth Management LLC increased its stake in shares of Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after acquiring an additional 635 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 shares during the period. Institutional investors and hedge funds 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.