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

by · The Cerbat Gem

Matador Resources (NYSE:MTDR – Get Free Report)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They currently have a $70.00 price objective on the energy company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 35.11% from the company’s previous close.

MTDR has been the topic of several other research reports. BMO Capital Markets increased their target price on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday. Wolfe Research assumed coverage on Matador Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price objective on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, KeyCorp reduced their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $75.31.

Read Our Latest Report on Matador Resources

Matador Resources Price Performance

Shares of NYSE MTDR traded up $1.05 during midday trading on Thursday, reaching $51.81. 1,003,535 shares of the company traded hands, compared to its average volume of 1,510,624. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The stock’s 50-day simple moving average is $52.93 and its 200-day simple moving average is $58.36. The firm has a market cap of $6.46 billion, a PE ratio of 7.08 and a beta of 3.26.

Matador Resources (NYSE:MTDR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. As a group, equities analysts anticipate that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $51.47 per share, for a total transaction 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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matador Resources news, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $51.47 per share, for a total transaction 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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 12,300 shares of company stock worth $634,615 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its stake in shares of Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after purchasing an additional 169 shares during the period. Securian Asset Management Inc. grew its position in Matador Resources by 1.9% during the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after buying an additional 170 shares in the last quarter. Raymond James Trust N.A. grew its position in Matador Resources by 3.6% during the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after buying an additional 198 shares in the last quarter. Covestor Ltd grew its position in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

(Get Free Report)

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.

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