Royal Bank of Canada Acquires 51,499 Shares of Matador Resources Company $MTDR

Royal Bank of Canada lifted its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 439,972 shares of the energy company's stock after buying an additional 51,499 shares during the quarter. Royal Bank of Canada owned 0.35% of Matador Resources worth $22,478,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MTDR. Vanguard Group Inc. grew its stake in Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after purchasing an additional 956,090 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Matador Resources by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company's stock valued at $279,192,000 after purchasing an additional 20,134 shares in the last quarter. LSV Asset Management grew its position in shares of Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after acquiring an additional 772,071 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Matador Resources by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock worth $104,413,000 after acquiring an additional 477,236 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its position in shares of Matador Resources by 6.8% in the 1st quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock worth $77,398,000 after acquiring an additional 96,562 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $49.17 per share, with a total value of $245,850.00. Following the acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. The trade was a 311.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 5.80% of the stock is currently owned by company insiders.

Matador Resources Stock Down 1.8%

Shares of MTDR traded down $0.87 during trading hours on Friday, hitting $47.72. 1,126,581 shares of the company were exchanged, compared to its average volume of 1,255,470. The company has a market cap of $5.94 billion, a PE ratio of 6.99 and a beta of 1.49. The firm's 50 day moving average is $49.23 and its 200-day moving average is $46.90. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, equities research analysts forecast that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.6%. Matador Resources's dividend payout ratio is 18.30%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTDR. William Blair began coverage on Matador Resources in a research report on Monday, August 25th. They issued an "outperform" rating for the company. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. KeyCorp reduced their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Wells Fargo & Company reduced their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Finally, Morgan Stanley boosted their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Matador Resources currently has a consensus rating of "Moderate Buy" and an average target price of $67.53.

Matador Resources Profile

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.