Royal Bank of Canada Reiterates “Outperform” Rating for Matador Resources (NYSE:MTDR)

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $70.00 target price on the energy company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.61% from the company’s current price.

Several other research analysts have also commented on MTDR. Mizuho reduced their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Morgan Stanley began coverage on shares of Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target for the company. Stephens lifted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, TD Cowen increased their price objective on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Stock Performance

NYSE:MTDR opened at $63.29 on Wednesday. The company has a market cap of $7.90 billion, a P/E ratio of 8.38 and a beta of 3.24. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company’s 50-day moving average price is $57.79 and its 200-day moving average price is $56.13. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping 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 business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period last year, the company posted $1.86 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Matador Resources will post 7.46 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William Thomas Elsener bought 800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the purchase, the executive vice president now owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased 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 directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,285 shares of company stock worth $232,849. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently made changes to their positions in MTDR. MassMutual Private Wealth & Trust FSB boosted its position in shares of Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after purchasing an additional 207 shares during the period. ClearAlpha Technologies LP boosted its holdings in shares of Matador Resources by 4.3% in the third 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. Quarry LP boosted its holdings in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the period. Greenleaf Trust increased its holdings in shares of Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after acquiring an additional 260 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Matador Resources by 4.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock worth $406,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.