Matador Resources’ (MTDR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research note released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $70.00 price objective on the energy company’s stock.

A number of other equities analysts have also weighed in on MTDR. TD Cowen upped their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. KeyCorp dropped their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, Morgan Stanley started coverage on Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price for the company. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $63.83 on Wednesday. The stock has a market cap of $7.96 billion, a P/E ratio of 8.45 and a beta of 3.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The stock’s fifty day moving average is $57.94 and its 200 day moving average is $56.16. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 earnings per share. Sell-side analysts anticipate that Matador Resources will post 7.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $55.18 per share, with a total value of $110,360.00. Following the purchase, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Glenn W. Stetson bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 4,285 shares of company stock worth $232,849. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its position in Matador Resources by 33.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,528 shares of the energy company’s stock valued at $592,000 after acquiring an additional 2,627 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the period. UMB Bank n.a. grew its holdings in Matador Resources by 109.1% during the 4th quarter. UMB Bank n.a. now owns 945 shares of the energy company’s stock valued at $53,000 after purchasing an additional 493 shares during the last quarter. Value Holdings Management CO. LLC raised its position in Matador Resources by 2.1% in the 4th quarter. Value Holdings Management CO. LLC now owns 684,008 shares of the energy company’s stock worth $38,483,000 after purchasing an additional 14,000 shares during the period. Finally, Spring Capital Management LLC grew its stake in shares of Matador Resources by 89.5% during the fourth quarter. Spring Capital Management LLC now owns 50,827 shares of the energy company’s stock valued at $2,860,000 after buying an additional 24,000 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.