Insider Buying: Matador Resources (NYSE:MTDR) CEO Buys $124,925.00 in Stock

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, September 6th, Joseph Wm Foran bought 2,500 shares of Matador Resources stock. The shares were bought at an average cost of $51.47 per share, with a total value of $128,675.00.
• On Friday, August 2nd, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The stock was acquired at an average price of $55.96 per share, for a total transaction of $111,920.00.

Matador Resources Price Performance

Matador Resources stock opened at $49.84 on Friday. Matador Resources has a 1 year low of $48.22 and a 1 year high of $71.08. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 6.83 and a beta of 3.27. The firm has a 50-day moving average of $57.26 and a two-hundred day moving average of $61.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 EPS. On average, research analysts forecast that Matador Resources will post 7.83 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently modified their holdings of MTDR. Denver PWM LLC purchased a new stake in shares of Matador Resources during the 2nd quarter worth $27,000. Covestor Ltd grew its stake in Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Rise Advisors LLC bought a new position in Matador Resources in the first quarter worth about $34,000. Lindbrook Capital LLC lifted its position in shares of Matador Resources by 84.3% during the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after buying an additional 273 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $75.00 target price on shares of Matador Resources in a research report on Thursday, July 25th. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday. TD Cowen increased their price target on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial lowered their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average target price of $78.08.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.