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 report released on Thursday, Benzinga reports. The brokerage currently has a $75.00 price target on the energy company’s stock.

Other analysts have also recently issued reports about the company. Capital One Financial upgraded Matador Resources from an equal weight rating to an overweight rating and upped their target price for the company from $80.00 to $84.00 in a report on Thursday. Truist Financial reduced their target price on Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a report on Monday, July 22nd. KeyCorp increased their price target on Matador Resources from $71.00 to $76.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Wolfe Research started coverage on Matador Resources in a report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Wells Fargo & Company increased their price target on Matador Resources from $85.00 to $88.00 and gave the stock an overweight rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $78.08.

Matador Resources Stock Performance

Matador Resources stock opened at $61.44 on Thursday. The business has a 50 day moving average of $60.26 and a 200-day moving average of $61.42. Matador Resources has a 1 year low of $51.72 and a 1 year high of $71.08. The company has a market capitalization of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the prior year, the business posted $1.42 earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. On average, equities research analysts predict that Matador Resources will post 7.93 earnings per share for the current year.

Matador Resources Dividend Announcement

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

Insider Transactions at Matador Resources

In related news, EVP Bryan A. Erman purchased 1,750 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired 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 of the company’s stock, valued at approximately $97,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd raised its position in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Matador Resources during the 1st quarter valued at $34,000. Oakworth Capital Inc. purchased a new stake in shares of Matador Resources during the 4th quarter valued at $31,000. Lindbrook Capital LLC increased its position 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 valued at $40,000 after purchasing an additional 273 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Matador Resources during the 4th quarter valued at $35,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.