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

Matador Resources (NYSE:MTDR)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They presently have a $75.00 target price on the energy company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 20.70% from the stock’s previous close.

A number of other research firms have also recently issued reports on MTDR. JPMorgan Chase & Co. upped their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Stephens cut their price objective on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday. 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 research report on Thursday. KeyCorp increased their target price on Matador Resources from $71.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their price target on Matador Resources from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $78.08.

Matador Resources Stock Performance

NYSE MTDR traded up $0.46 on Thursday, reaching $62.14. The stock had a trading volume of 829,145 shares, compared to its average volume of 1,527,128. Matador Resources has a 1-year low of $51.72 and a 1-year high of $71.08. The company has a market cap of $7.75 billion, a P/E ratio of 8.48 and a beta of 3.29. The firm has a fifty day moving average of $60.27 and a two-hundred day moving average of $61.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.93%. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. On average, equities research analysts anticipate that Matador Resources will post 7.88 EPS for the current year.

Insider Activity

In related news, EVP Bryan A. Erman purchased 1,750 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now owns 1,750 shares of the company’s stock, valued at $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently added to or reduced their stakes in MTDR. Covestor Ltd increased its stake in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC bought a new stake in Matador Resources during the first quarter valued at $34,000. Oakworth Capital Inc. purchased a new position in shares of Matador Resources during the fourth quarter worth about $31,000. Lindbrook Capital LLC raised its position in shares of Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after buying an additional 273 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Matador Resources in the fourth quarter valued at $35,000. 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.