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

Royal Bank of Canada reiterated their outperform rating on shares of Matador Resources (NYSE:MTDR) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $75.00 target price on the energy company’s stock.

A number of other brokerages have also issued reports on MTDR. Benchmark restated a buy rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday. Wolfe Research began coverage on Matador Resources in a report on Thursday, July 18th. They set a peer perform rating on the stock. KeyCorp upped their target price on Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. raised their price target on Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Finally, Truist Financial dropped their price objective on shares of Matador Resources from $91.00 to $86.00 and set a buy rating for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $78.08.

Matador Resources Stock Performance

Matador Resources stock opened at $61.56 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 0.86. Matador Resources has a fifty-two week low of $51.72 and a fifty-two week high of $71.08. The stock has a fifty day moving average of $60.27 and a two-hundred day moving average of $61.29. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 8.45 and a beta of 3.29.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. On average, analysts anticipate that Matador Resources will post 7.88 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.30%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP Bryan A. Erman purchased 1,750 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the transaction, the executive vice president now owns 1,750 shares in the company, valued at $97,825. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently bought and sold shares of MTDR. Covestor Ltd grew its position in 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 acquiring an additional 227 shares in the last quarter. Rise Advisors LLC acquired a new stake in Matador Resources during the 1st quarter valued at $34,000. Oakworth Capital Inc. acquired a new stake in Matador Resources during the 4th quarter valued at $31,000. Lindbrook Capital LLC increased its stake in 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, McGlone Suttner Wealth Management Inc. acquired a new position in Matador Resources in the 4th quarter worth $35,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.