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

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $75.00 price target on the energy company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 43.68% from the stock’s current price.

Other analysts also recently issued reports about the company. Wolfe Research initiated coverage on Matador Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen upped their target price on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.17.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $52.20 on Friday. The business’s 50-day simple moving average is $56.40 and its 200 day simple moving average is $60.75. The company has a market cap of $6.51 billion, a P/E ratio of 7.15 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. 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 quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 earnings per share. On average, sell-side analysts forecast that Matador Resources will post 7.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. The disclosure for this purchase can be found here. Insiders have purchased 12,300 shares of company stock valued at $634,615 over the last three months. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of the stock. Denver PWM LLC bought a new stake in shares of Matador Resources during the 2nd quarter worth about $27,000. Covestor Ltd increased 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 period. Rise Advisors LLC bought a new stake in Matador Resources during the first quarter worth approximately $34,000. Lindbrook Capital LLC lifted its position in Matador Resources by 84.3% in the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after purchasing an additional 273 shares during the period. Finally, Quarry LP boosted its stake in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds 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.