Insider Buying: Matador Resources (NYSE:MTDR) COO Buys $50,800.00 in Stock

Matador Resources Company (NYSE:MTDR) COO Glenn Stetson bought 1,000 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was acquired at an average price of $50.80 per share, for a total transaction of $50,800.00. Following the acquisition, the chief operating officer directly owned 96,769 shares in the company, valued at $4,915,865.20. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Matador Resources Stock Performance

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

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.23. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. 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 previous year, the firm posted $1.36 earnings per share. The firm’s revenue was up 33.9% on a year-over-year basis. Research analysts anticipate that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s payout ratio is currently 30.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new stake in Matador Resources in the 3rd quarter worth approximately $885,000. GW&K Investment Management LLC grew its holdings in Matador Resources by 2.1% during the third quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company’s stock valued at $72,527,000 after purchasing an additional 28,704 shares during the last quarter. Heartland Advisors Inc. grew its holdings in Matador Resources by 6.2% during the third quarter. Heartland Advisors Inc. now owns 142,668 shares of the energy company’s stock valued at $7,359,000 after purchasing an additional 8,350 shares during the last quarter. Boston Partners bought a new position in shares of Matador Resources in the third quarter valued at approximately $1,534,000. Finally, Voya Investment Management LLC raised its position in shares of Matador Resources by 146.9% in the third 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 period. 91.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MTDR shares. Scotiabank initiated coverage on shares of Matador Resources in a report on Thursday, October 15th. They set a “sector perform” rating and a $59.00 price target on the stock. 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 note on Thursday, October 15th. KeyCorp increased their price objective on Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Seaport Research Partners started coverage on Matador Resources in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Finally, UBS Group boosted their target price on Matador Resources from $56.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 14th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.50.

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.