Matador Resources (NYSE:MTDR) Receives Outperform Rating from Royal Bank of Canada

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

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company upped their target price on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, October 23rd. 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Price Performance

Shares of MTDR opened at $63.59 on Wednesday. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 8.42 and a beta of 3.24. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The business’s 50-day moving average is $57.66 and its 200-day moving average is $56.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data 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 return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Matador Resources will post 7.46 EPS for the current fiscal year.

Insider Activity at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener acquired 800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn W. Stetson acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 4,285 shares of company stock worth $232,849 over the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Trust Walden Corp bought a new position in shares of Matador Resources during the 3rd quarter worth approximately $51,788,000. Yaupon Capital Management LP boosted its stake in shares of Matador Resources by 565.4% during the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after acquiring an additional 632,218 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after acquiring an additional 356,506 shares during the period. FMR LLC boosted its stake in shares of Matador Resources by 162.9% during the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after acquiring an additional 296,663 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after acquiring an additional 214,334 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.