Matador Resources (NYSE:MTDR) Price Target Lowered to $60.00 at Royal Bank Of Canada

Matador Resources (NYSE:MTDR) had its price target decreased by investment analysts at Royal Bank Of Canada from $62.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 39.55% from the company’s current price.

Several other research firms also recently commented on MTDR. UBS Group increased their target price on Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Bank of America dropped their price objective on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Citigroup began coverage on shares of Matador Resources in a report on Monday, December 8th. They set a “buy” rating and a $53.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research report on Friday. Finally, Mizuho lifted their price target on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.08.

Matador Resources Price Performance

NYSE:MTDR traded up $1.11 on Tuesday, hitting $43.00. The company had a trading volume of 330,062 shares, compared to its average volume of 1,571,542. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 6.85 and a beta of 1.09. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $41.85 and a two-hundred day moving average of $45.26. Matador Resources has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm had revenue of $939.02 million for the quarter, compared to analysts’ expectations of $893.22 million. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, insider Van H. Singleton II purchased 1,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $39.46 per share, for a total transaction of $39,460.00. Following the acquisition, the insider owned 292,418 shares in the company, valued at approximately $11,538,814.28. The trade was a 0.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan M. Ward acquired 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $39.04 per share, with a total value of $195,200.00. Following the completion of the transaction, the director owned 14,923 shares in the company, valued at approximately $582,593.92. This represents a 50.39% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 37,346 shares of company stock valued at $1,463,396. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTDR. Vanguard Group Inc. boosted its holdings in Matador Resources by 0.7% during the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock worth $664,105,000 after purchasing an additional 101,613 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Matador Resources by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock worth $288,079,000 after buying an additional 259,299 shares in the last quarter. LSV Asset Management boosted its stake in shares of Matador Resources by 5.9% in the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock worth $158,706,000 after buying an additional 197,528 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after buying an additional 1,505,000 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Matador Resources by 6.7% in the third quarter. Wellington Management Group LLP now owns 2,064,037 shares of the energy company’s stock valued at $92,737,000 after acquiring an additional 129,863 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.