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

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They presently have a $75.00 price objective on the energy company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 43.68% from the company’s current price.

Other analysts also recently issued research reports about the company. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of Matador Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. TD Cowen boosted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Stephens decreased their target price on Matador Resources from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $77.17.

Matador Resources Stock Performance

Matador Resources stock opened at $52.20 on Friday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 7.15 and a beta of 3.27. Matador Resources has a 1 year low of $48.22 and a 1 year high of $71.08. The firm’s 50 day moving average price is $56.40 and its two-hundred day moving average price is $60.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same period last year, the company posted $1.42 EPS. On average, research analysts predict that Matador Resources will post 7.83 EPS for the current fiscal year.

Insider Activity at Matador Resources

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

Institutional Trading of Matador Resources

Several large investors have recently made changes to their positions in the stock. Denver PWM LLC bought a new position in shares of Matador Resources in the 2nd quarter valued at approximately $27,000. Covestor Ltd raised its position in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the period. Rise Advisors LLC acquired a new stake in shares of Matador Resources in the first quarter worth $34,000. Lindbrook Capital LLC boosted its holdings in shares of Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after buying an additional 273 shares during the period. Finally, Quarry LP grew its stake in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares during the last quarter. Institutional investors 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.