Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Acquires 3,130 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran acquired 3,130 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $51.04 per share, for a total transaction of $159,755.20. Following the completion of the purchase, the chief executive officer directly owned 14,908 shares of the company’s stock, valued at approximately $760,904.32. The trade was a 26.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, August 11th, Joseph Wm Foran bought 709 shares of Matador Resources stock. The stock was purchased at an average price of $51.68 per share, with a total value of $36,641.12.
• On Tuesday, June 9th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was acquired at an average cost of $53.07 per share, for a total transaction of $106,140.00.
• On Thursday, June 4th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was acquired at an average cost of $56.25 per share, for a total transaction of $112,500.00.
• On Friday, May 29th, Joseph Wm Foran purchased 482 shares of Matador Resources stock. The shares were acquired at an average price of $52.70 per share, for a total transaction of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran purchased 4,675 shares of Matador Resources stock. The shares were acquired at an average cost of $52.36 per share, with a total value of $244,783.00.

Matador Resources Trading Up 0.6%

Shares of MTDR opened at $52.55 on Wednesday. The stock has a fifty day moving average price of $51.29 and a two-hundred day moving average price of $53.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 9.01 and a beta of 0.76.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Analysts predict that Matador Resources Company will post 7.11 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, August 10th. This represents a $1.50 annualized dividend and a yield of 2.9%. Matador Resources’s dividend payout ratio is 25.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MTDR shares. Citigroup lowered their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley reduced their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Matador Resources in a research note on Friday. Mizuho raised shares of Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Emerald Investment Advisers LLC acquired a new position in Matador Resources during the 2nd quarter valued at about $4,053,000. William Blair Investment Management LLC bought a new position in shares of Matador Resources in the 2nd quarter valued at about $24,521,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Matador Resources during the 2nd quarter worth approximately $328,000. Callan Family Office LLC acquired a new stake in shares of Matador Resources during the 2nd quarter worth approximately $206,000. Finally, Heartland Advisors Inc. bought a new stake in shares of Matador Resources during the second quarter worth approximately $6,686,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.