Insider Buying: Matador Resources (NYSE:MTDR) Director Acquires $53,707.00 in Stock

Matador Resources Company (NYSE:MTDR) Director Shelley Appel bought 1,075 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were acquired at an average cost of $49.96 per share, with a total value of $53,707.00. Following the purchase, the director directly owned 3,950 shares of the company’s stock, valued at approximately $197,342. This represents a 37.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Matador Resources Price Performance

MTDR stock opened at $52.10 on Thursday. The firm has a 50 day moving average price of $55.78 and a 200-day moving average price of $54.62. Matador Resources Company has a 52-week low of $39.55 and a 52-week high of $66.84. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.55.

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

Matador Resources Increases Dividend

The business also recently disclosed 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 is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. Matador Resources’s dividend payout ratio (DPR) is presently 30.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in Matador Resources in the 3rd quarter worth approximately $885,000. GW&K Investment Management LLC lifted its position in Matador Resources by 2.1% in the 3rd quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company’s stock valued at $72,527,000 after acquiring an additional 28,704 shares in the last quarter. Heartland Advisors Inc. lifted its position in Matador Resources by 6.2% in the 3rd quarter. Heartland Advisors Inc. now owns 142,668 shares of the energy company’s stock valued at $7,359,000 after acquiring an additional 8,350 shares in the last quarter. Boston Partners purchased a new stake in Matador Resources during the 3rd quarter valued at $1,534,000. Finally, Voya Investment Management LLC boosted its stake in Matador Resources by 146.9% during the 3rd quarter. Voya Investment Management LLC now owns 27,429 shares of the energy company’s stock valued at $1,415,000 after purchasing an additional 16,320 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the topic of several analyst reports. Scotiabank initiated coverage on Matador Resources in a report on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 target price on the stock. Stifel Nicolaus assumed coverage on Matador Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $66.00 target price on the stock. Wall Street Zen upgraded Matador Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Citigroup reduced their price target on Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company 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. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Matador Resources Company Profile

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.