Matador Resources (NYSE:MTDR) Given Outperform Rating at Royal Bank of Canada

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

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Truist Financial lifted their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen increased their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Mizuho dropped their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their price target on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $63.29 on Wednesday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a 50-day moving average price of $57.79 and a 200 day moving average price of $56.13. The company has a market cap of $7.90 billion, a P/E ratio of 8.38 and a beta of 3.24. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last posted its quarterly 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. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 EPS. Research analysts predict that Matador Resources will post 7.46 earnings per share for the current year.

Insider Activity

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were bought at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the purchase, the chief executive officer now directly owns 42,251 shares in the company, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William Thomas Elsener acquired 800 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the purchase, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 4,285 shares of company stock valued at $232,849 over the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. MassMutual Private Wealth & Trust FSB increased its stake in Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after acquiring an additional 207 shares during the last quarter. True Wealth Design LLC acquired a new stake in Matador Resources during the 3rd quarter worth approximately $37,000. Denver PWM LLC raised its holdings in Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after buying an additional 303 shares during the period. Quarry LP lifted its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after buying an additional 635 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.