Matador Resources (NYSE:MTDR) Stock: Insider Christopher Calvert Acquires 2,000 Shares

Matador Resources Company (NYSE:MTDR) CFO Christopher Calvert purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average cost of $52.57 per share, for a total transaction of $105,140.00. Following the completion of the purchase, the chief financial officer directly owned 46,000 shares in the company, valued at $2,418,220. This represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Matador Resources Stock Performance

NYSE MTDR opened at $50.38 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources Company has a fifty-two week low of $37.74 and a fifty-two week high of $66.84. The business has a fifty day moving average of $56.21 and a 200-day moving average of $54.51. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 8.69 and a beta of 0.93.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.23. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.12 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, analysts predict that Matador Resources Company will post 8.12 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.4375 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.75 annualized dividend and a yield of 3.5%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s dividend payout ratio (DPR) is 25.86%.

Key Stories Impacting Matador Resources

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Three executives bought shares on November 5: EVP William Elsener purchased 900 shares, CFO Christopher Calvert bought 2,000, and CAO Benjamin Colodney bought 500. Insider buying can signal confidence in the company’s prospects. Insider purchase report
• Positive Sentiment: Matador’s third-quarter results topped expectations: EPS was $2.08 versus $1.85 expected, while revenue reached $1.39 billion against $1.12 billion expected, up 33.9% year over year. The company also increased its quarterly dividend 17%, to $0.4375 per share. Q3 results presentation
• Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Stifel Nicolaus rating
• Neutral Sentiment: Scotiabank reaffirmed its Hold rating, suggesting a more cautious view alongside the recent Buy calls. Scotiabank rating
• Negative Sentiment: A recent Q3 review pointed to margin compression despite production growth. That could temper the positive earnings and revenue surprises if profitability remains under pressure. Q3 analysis

Analyst Ratings Changes

Several analysts recently commented on MTDR shares. Stifel Nicolaus initiated coverage on shares of Matador Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $66.00 price objective for the company. Seaport Research Partners initiated coverage on Matador Resources in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. KeyCorp boosted their price objective on shares of Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. Citigroup reduced their price target on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Mizuho lowered their price target on Matador Resources from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.50.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently made changes to their positions in the company. Diversified Trust Co boosted its holdings in shares of Matador Resources by 1.8% in the third quarter. Diversified Trust Co now owns 24,436 shares of the energy company’s stock valued at $1,260,000 after purchasing an additional 434 shares during the period. Allworth Financial LP boosted its holdings in Matador Resources by 27.6% in the 3rd quarter. Allworth Financial LP now owns 1,621 shares of the energy company’s stock worth $81,000 after acquiring an additional 351 shares during the period. Russell Investments Group Ltd. raised its position in shares of Matador Resources by 60.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 185,598 shares of the energy company’s stock worth $9,573,000 after buying an additional 70,256 shares in the last quarter. Fifth Third Bancorp lifted its stake in Matador Resources by 33.3% in the third quarter. Fifth Third Bancorp now owns 150,931 shares of the energy company’s stock valued at $7,785,000 after acquiring an additional 37,676 shares during the last quarter. Finally, Alpha Wealth Funds LLC acquired a new position in Matador Resources in the third quarter valued at about $304,000. 91.98% of the stock is currently owned by institutional investors.

About Matador Resources

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.