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

Royal Bank of Canada reaffirmed their outperform rating on shares of Matador Resources (NYSE:MTDR - Free Report) in a research report report published on Thursday morning, Benzinga reports. They currently have a $70.00 price objective on the energy company's stock.

Several other analysts also recently issued reports on the company. Capital One Financial upgraded Matador Resources from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $83.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company decreased their price objective on shares of Matador Resources from $89.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st. Benchmark reissued a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday. Finally, Mizuho decreased their target price on Matador Resources from $85.00 to $74.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.31.

Matador Resources Price Performance

Matador Resources stock traded up $1.62 during mid-day trading on Thursday, hitting $52.38. The company's stock had a trading volume of 2,382,289 shares, compared to its average volume of 1,517,317. The stock has a market capitalization of $6.54 billion, a P/E ratio of 7.18 and a beta of 3.26. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock's fifty day moving average price is $52.93 and its two-hundred day moving average price is $58.36. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR - Get Free Report) last issued 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 business had revenue of $770.20 million for the quarter, compared to analysts' expectations of $836.69 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 EPS. Research analysts forecast that Matador Resources will post 7.4 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources's previous quarterly dividend of $0.20. Matador Resources's dividend payout ratio (DPR) is presently 13.70%.

Insiders Place Their Bets

In other Matador Resources news, Director Robert Gaines Baty bought 500 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares of the company's stock, valued at $3,420,067.86. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robert Gaines Baty bought 500 shares of the firm's stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares of the company's stock, valued at $3,420,067.86. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,500 shares of the firm's stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,251 shares of the company's stock, valued at approximately $2,011,342.47. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 12,300 shares of company stock valued at $634,615 over the last ninety days. Corporate insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock valued at $742,797,000 after buying an additional 103,713 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock worth $282,196,000 after acquiring an additional 356,506 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock worth $134,102,000 after purchasing an additional 214,334 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Matador Resources by 7.3% during the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company's stock valued at $78,575,000 after purchasing an additional 79,920 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Matador Resources by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company's stock valued at $73,768,000 after purchasing an additional 53,322 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.