Matador Resources' (MTDR) Outperform Rating Reiterated at Royal Bank of Canada

Matador Resources (NYSE:MTDR - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Royal Bank of Canada in a report issued 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 indicates a potential upside of 10.32% from the company's previous close.

MTDR has been the subject of several other reports. Truist Financial upped their target price on Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday. Wolfe Research upgraded shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Friday, January 3rd. Morgan Stanley initiated coverage on shares of Matador Resources in a report on Friday, January 10th. They issued an "equal weight" rating and a $78.00 target price for the company. KeyCorp lowered their price objective on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, Stephens lifted their target price on Matador Resources from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and a consensus price target of $75.14.

Matador Resources Trading Up 1.1 %

Shares of Matador Resources stock traded up $0.72 during mid-day trading on Wednesday, hitting $63.45. 1,478,095 shares of the stock were exchanged, compared to its average volume of 1,192,088. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 8.40 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 has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $57.53 and a 200 day simple moving average of $56.03.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its 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 firm had revenue of $770.20 million for 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%. Matador Resources's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 earnings per share. Research analysts forecast that Matador Resources will post 7.49 EPS for the current year.

Insider Activity at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now owns 102,964 shares of the company's stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn W. Stetson acquired 1,000 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now directly owns 85,935 shares in the company, 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. In the last three months, insiders bought 4,285 shares of company stock valued at $232,849. Corporate insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MTDR. Boston Trust Walden Corp acquired a new stake in shares of Matador Resources in the 3rd quarter valued at about $51,788,000. Yaupon Capital Management LP increased its holdings in Matador Resources by 565.4% in the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company's stock valued at $36,770,000 after buying an additional 632,218 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after buying an additional 356,506 shares in the last quarter. FMR LLC grew its position in shares of Matador Resources by 162.9% in the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after acquiring an additional 296,663 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Matador Resources by 10.5% in the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock valued at $134,102,000 after acquiring an additional 214,334 shares during the last quarter. 91.98% of the stock is currently owned by 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.