Royal Bank of Canada Has $21.86 Million Stock Holdings in Matador Resources (NYSE:MTDR)

Royal Bank of Canada decreased its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 388,473 shares of the energy company's stock after selling 53,084 shares during the period. Royal Bank of Canada owned 0.31% of Matador Resources worth $21,855,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Recurrent Investment Advisors LLC bought a new stake in shares of Matador Resources during the 4th quarter valued at $1,658,000. ProShare Advisors LLC raised its position in Matador Resources by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 5,430 shares of the energy company's stock valued at $305,000 after purchasing an additional 369 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Matador Resources by 71.3% during the 4th quarter. Quantinno Capital Management LP now owns 13,141 shares of the energy company's stock worth $739,000 after purchasing an additional 5,471 shares during the period. Pathstone Holdings LLC grew its position in Matador Resources by 5.2% in the 4th quarter. Pathstone Holdings LLC now owns 249,954 shares of the energy company's stock valued at $14,062,000 after acquiring an additional 12,450 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Matador Resources during the 4th quarter valued at about $866,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stephens reduced their price target on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley cut their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Bank of America initiated coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 price target for the company. Finally, Wells Fargo & Company dropped their target price on Matador Resources from $86.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Matador Resources presently has a consensus rating of "Moderate Buy" and an average target price of $69.44.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $48.55 per share, with a total value of $97,100.00. Following the completion of the transaction, the chief executive officer now owns 43,379 shares in the company, valued at $2,106,050.45. The trade was a 4.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Thomas Elsener acquired 750 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $40.10 per share, with a total value of $30,075.00. Following the completion of the transaction, the executive vice president now owns 111,197 shares in the company, valued at $4,458,999.70. This represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 21,850 shares of company stock valued at $931,694 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Matador Resources Stock Performance

MTDR stock traded down $0.61 during midday trading on Friday, hitting $43.43. 322,311 shares of the company traded hands, compared to its average volume of 1,624,355. The business has a 50 day simple moving average of $43.05 and a 200-day simple moving average of $51.72. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 6.10 and a beta of 1.47. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm's quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the firm posted $1.71 EPS. As a group, equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Matador Resources declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Matador Resources Company 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.