Royal Bank of Canada Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR - Free Report) had its price target trimmed by Royal Bank of Canada from $70.00 to $62.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the energy company's stock.

A number of other equities research analysts have also weighed in on MTDR. Benchmark reiterated a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Raymond James reduced their price objective on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. 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 research report on Monday, December 16th. Wells Fargo & Company reduced their price target on shares of Matador Resources from $90.00 to $87.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 25th. Finally, Truist Financial increased their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $73.36.

Remove Ads

Matador Resources Trading Up 2.4 %

Matador Resources stock traded up $0.94 during mid-day trading on Friday, hitting $39.89. The company's stock had a trading volume of 1,042,165 shares, compared to its average volume of 1,552,424. The business has a 50 day moving average price of $49.25 and a 200-day moving average price of $54.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. Matador Resources has a 12 month low of $35.19 and a 12 month high of $67.72. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 5.59 and a beta of 2.74.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Matador Resources's previous quarterly dividend of $0.25. Matador Resources's dividend payout ratio (DPR) is 17.51%.

Insider Transactions at Matador Resources

In related news, CAO Robert T. Macalik purchased 1,200 shares of Matador Resources stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the purchase, the chief accounting officer now directly owns 31,000 shares of the company's stock, valued at $1,487,380. The trade was a 4.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy E. Parker acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the transaction, the director now owns 83,790 shares of the company's stock, valued at $3,742,899.30. This trade represents a 2.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 21,350 shares of company stock valued at $1,100,769. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock valued at $706,375,000 after purchasing an additional 187,633 shares during the period. Dimensional Fund Advisors LP increased its stake in Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock worth $306,313,000 after buying an additional 30,184 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after acquiring an additional 555,245 shares during the period. Geode Capital Management LLC lifted its position in shares of Matador Resources by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company's stock valued at $99,297,000 after acquiring an additional 36,921 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Matador Resources by 18.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock worth $93,952,000 after acquiring an additional 258,958 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.