Matador Resources (NYSE:MTDR) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $75.00 price target on the energy company’s stock.

Several other equities research analysts also recently weighed in on the stock. Truist Financial dropped their target price on shares of Matador Resources from $91.00 to $86.00 and set a buy rating for the company in a research report on Monday, July 22nd. Benchmark reissued a buy rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, July 24th. Mizuho reduced their target price on Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a report on Monday, September 16th. Stephens lifted their target price on Matador Resources from $74.00 to $76.00 and gave the stock an overweight rating in a research report on Friday. Finally, TD Cowen upped their price target on Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $75.83.

Matador Resources Trading Up 0.1 %

Shares of MTDR opened at $49.41 on Friday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The stock has a 50-day moving average price of $54.70 and a 200 day moving average price of $60.09. 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 company has a market capitalization of $6.17 billion, a P/E ratio of 6.77 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. Sell-side analysts forecast that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

Insider Activity

In other news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $54.50 per share, with a total value of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of Matador Resources stock in a transaction on Friday, September 6th. The stock was bought at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the transaction, the chief financial officer now owns 1,500 shares of the company’s stock, valued at approximately $75,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, with a total value of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of MTDR. PNC Financial Services Group Inc. raised its position in shares of Matador Resources by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock worth $614,000 after buying an additional 294 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Matador Resources by 16.8% during the fourth quarter. Corient Private Wealth LLC now owns 18,166 shares of the energy company’s stock worth $1,033,000 after purchasing an additional 2,616 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Matador Resources by 4.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,554 shares of the energy company’s stock worth $1,567,000 after purchasing an additional 1,096 shares during the period. Orion Portfolio Solutions LLC boosted its stake in Matador Resources by 6.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,500 shares of the energy company’s stock valued at $1,919,000 after purchasing an additional 2,128 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Matador Resources by 6.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,665 shares of the energy company’s stock valued at $265,000 after purchasing an additional 281 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.