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

Matador Resources (NYSE:MTDR - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They presently have a $70.00 price objective on the energy company's stock. Royal Bank of Canada's target price would indicate a potential upside of 26.58% from the stock's current price.

MTDR has been the subject of several other research reports. Truist Financial lowered their price target on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Wells Fargo & Company cut their target price on Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target 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. Mizuho reduced 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. Finally, BMO Capital Markets raised their target price on shares of Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.08.

Matador Resources Stock Down 4.8 %

Shares of NYSE MTDR traded down $2.80 on Friday, hitting $55.30. The company had a trading volume of 1,449,047 shares, compared to its average volume of 1,110,516. The firm has a market capitalization of $6.90 billion, a P/E ratio of 7.33 and a beta of 3.26. 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 has a 12-month low of $47.15 and a 12-month high of $71.08. The business has a 50 day moving average of $55.00 and a two-hundred day moving average of $56.53.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to analyst estimates 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 was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 earnings per share. As a group, equities research analysts forecast that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the business's stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $49.97 per share, with a total value of $124,925.00. Following the transaction, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. The trade was a 6.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $51.33 per share, with a total value of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares of the company's stock, valued at approximately $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 90 days, insiders bought 5,605 shares of company stock valued at $282,406. Insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Trust Walden Corp bought a new position in shares of Matador Resources during the 3rd quarter worth approximately $51,788,000. Yaupon Capital Management LP grew its holdings in shares of Matador Resources by 565.4% in the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company's stock worth $36,770,000 after purchasing an additional 632,218 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Matador Resources in the second quarter valued at about $18,747,000. Finally, FMR LLC grew its stake in Matador Resources by 162.9% during the third quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after buying an additional 296,663 shares during the last quarter. 91.98% of the stock is owned by 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.