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

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $70.00 target price on the energy company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 27.37% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price objective 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 upped their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Truist Financial dropped their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, KeyCorp reduced their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.08.

Matador Resources Stock Performance

MTDR traded down $3.14 on Friday, hitting $54.96. The company had a trading volume of 246,816 shares, compared to its average volume of 1,504,908. The company’s fifty day moving average price is $54.89 and its 200 day moving average price is $56.58. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 7.28 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the previous year, the company posted $1.86 earnings per share. Matador Resources’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Matador Resources news, EVP Glenn W. Stetson acquired 1,000 shares of the business’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 purchase, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Gaines Baty acquired 500 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average price of $50.58 per share, with a total value of $25,290.00. Following the transaction, the director now directly owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. The trade was a 0.74 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 5,605 shares of company stock valued at $282,406. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Securian Asset Management Inc. increased its holdings 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 valued at $552,000 after buying an additional 170 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after purchasing an additional 198 shares during the period. ClearAlpha Technologies LP boosted its holdings in Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after acquiring an additional 218 shares during the period. Fifth Third Bancorp grew its position in Matador Resources by 16.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after acquiring an additional 243 shares during the last quarter. Finally, Quarry LP increased its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. 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.