Matador Resources (NYSE:MTDR) Receives “Outperform” Rating from Royal Bank of Canada

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They currently have a $75.00 price target on the energy company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 45.69% from the stock’s previous close.

A number of other research firms also recently commented on MTDR. JPMorgan Chase & Co. decreased their target price on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, July 24th. Stephens reduced their target price on Matador Resources from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on shares of Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.17.

Matador Resources Trading Down 1.4 %

NYSE:MTDR traded down $0.72 during midday trading on Friday, hitting $51.48. The stock had a trading volume of 87,936 shares, compared to its average volume of 1,500,519. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 7.03 and a beta of 3.27. The stock has a 50-day moving average of $56.60 and a 200 day moving average of $60.83. Matador Resources has a one year low of $48.22 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. As a group, sell-side analysts forecast that Matador Resources will post 7.83 EPS for the current year.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the purchase, the chief executive officer now owns 40,251 shares in the company, valued at $2,011,342.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, with a total value of $27,250.00. Following the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 2,500 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The disclosure for this purchase can be found here. Insiders bought 12,300 shares of company stock worth $634,615 in the last three months. 6.10% of the stock is owned by company insiders.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC lifted its stake in shares of Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after purchasing an additional 169 shares during the period. Securian Asset Management Inc. increased its position 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 worth $552,000 after buying an additional 170 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after acquiring an additional 198 shares during the last quarter. Covestor Ltd boosted its stake in shares of Matador Resources by 121.4% during 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 during the last quarter. Finally, Fifth Third Bancorp increased its position in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after purchasing an additional 243 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.