Matador Resources (NYSE:MTDR) CEO Acquires $23,297.04 in Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran acquired 468 shares of Matador Resources stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $49.78 per share, with a total value of $23,297.04. Following the completion of the purchase, the chief executive officer owned 2,322 shares in the company, valued at $115,589.16. The trade was a 25.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Matador Resources Trading Up 2.9%

MTDR opened at $55.06 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The company’s 50 day simple moving average is $45.90 and its two-hundred day simple moving average is $44.66. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $55.60. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 9.03 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $847.99 million during the quarter, compared to analyst estimates of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 earnings per share. Analysts expect that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 27th. Matador Resources’s payout ratio is presently 24.59%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its holdings in Matador Resources by 143.1% during 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 in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Matador Resources during the third quarter worth $61,615,000. Wellington Management Group LLP increased its position in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after acquiring an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of Matador Resources in the fourth quarter valued at $53,249,000. Finally, LSV Asset Management boosted its holdings in Matador Resources by 45.7% in the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after purchasing an additional 1,045,396 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MTDR shares. BMO Capital Markets restated an “outperform” rating on shares of Matador Resources in a research report on Thursday, December 18th. Wells Fargo & Company downgraded Matador Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $61.00 to $47.00 in a research report on Tuesday, January 27th. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Morgan Stanley lowered their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Finally, Mizuho lifted their price target on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.82.

About Matador Resources

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.