Joseph Wm Foran Acquires 2,000 Shares of Matador Resources (NYSE:MTDR) Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $53.07 per share, with a total value of $106,140.00. Following the completion of the purchase, the chief executive officer owned 11,479 shares of the company’s stock, valued at $609,190.53. The trade was a 21.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Joseph Wm Foran also recently made the following trade(s):

• On Thursday, June 4th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The shares were acquired at an average price of $56.25 per share, for a total transaction of $112,500.00.
• On Friday, May 29th, Joseph Wm Foran bought 482 shares of Matador Resources stock. The stock was bought at an average price of $52.70 per share, with a total value of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran bought 4,675 shares of Matador Resources stock. The stock was bought at an average price of $52.36 per share, with a total value of $244,783.00.

Matador Resources Stock Up 2.5%

NYSE:MTDR opened at $55.10 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a market cap of $6.84 billion, a PE ratio of 14.16 and a beta of 0.74. The company’s 50 day moving average is $58.40 and its two-hundred day moving average is $51.30.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. During the same quarter last year, the company posted $1.99 earnings per share. The business’s quarterly revenue was down 33.8% on a year-over-year basis. Analysts anticipate that Matador Resources Company will post 7.5 EPS for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, May 8th. Matador Resources’s payout ratio is presently 38.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Investment Management LLC boosted its stake in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Matador Resources in the 1st quarter valued at about $27,000. Rothschild Investment LLC raised its holdings in Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources during the third quarter worth approximately $35,000. Finally, Center for Financial Planning Inc. acquired a new stake in Matador Resources in the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MTDR shares. Roth Mkm restated a “neutral” rating and issued a $65.00 price objective (up from $52.00) on shares of Matador Resources in a research note on Wednesday, April 8th. KeyCorp raised their price target on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. BMO Capital Markets lifted their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Citigroup reduced their target price on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.08.

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.