Matador Resources (NYSE:MTDR) CEO Buys $123,225.00 in Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Foran purchased 2,500 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was acquired at an average price of $49.29 per share, with a total value of $123,225.00. Following the completion of the acquisition, the chief executive officer directly owned 12,272 shares in the company, valued at $604,886.88. The trade was a 25.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, November 5th, Joseph Foran purchased 5,000 shares of Matador Resources stock. The shares were acquired at an average cost of $51.36 per share, for a total transaction of $256,800.00.
• On Wednesday, August 26th, Joseph Foran acquired 555 shares of Matador Resources stock. The shares were acquired at an average price of $54.49 per share, for a total transaction of $30,241.95.
• On Monday, August 17th, Joseph Foran acquired 400 shares of Matador Resources stock. The shares were acquired at an average price of $53.64 per share, for a total transaction of $21,456.00.

Matador Resources Trading Up 1.4%

Shares of NYSE:MTDR traded up $0.71 during midday trading on Thursday, reaching $52.79. The company’s stock had a trading volume of 1,229,329 shares, compared to its average volume of 1,844,013. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 9.10 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. Matador Resources Company has a 1 year low of $39.55 and a 1 year high of $66.84. The business has a 50 day moving average price of $55.78 and a 200 day moving average price of $54.62.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.23. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. Research analysts forecast that Matador Resources Company will post 8.34 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be issued a $0.4375 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date is Tuesday, November 10th. This represents a $1.75 annualized dividend and a yield of 3.3%. Matador Resources’s dividend payout ratio (DPR) is presently 30.17%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MTDR shares. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen raised shares of Matador Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. KeyCorp boosted their target price on shares of Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, September 15th. Weiss Ratings lowered shares of Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Finally, Morgan Stanley upped their price target on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Allworth Financial LP raised its holdings in shares of Matador Resources by 16.1% in the 2nd quarter. Allworth Financial LP now owns 1,270 shares of the energy company’s stock worth $63,000 after purchasing an additional 176 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Matador Resources by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,338 shares of the energy company’s stock worth $1,255,000 after purchasing an additional 200 shares during the period. Altshuler Shaham Ltd grew its holdings in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares during the period. Smith Group Asset Management LLC increased its position in Matador Resources by 1.6% during the 3rd quarter. Smith Group Asset Management LLC now owns 12,941 shares of the energy company’s stock worth $667,000 after purchasing an additional 208 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Matador Resources by 2.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,536 shares of the energy company’s stock worth $440,000 after purchasing an additional 214 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company’s operations and serving other producers in the region.