Insider Buying: Matador Resources (NYSE:MTDR) CEO Buys 2,000 Shares of Stock

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $48.55 per share, for a total transaction of $97,100.00. Following the completion of the transaction, the chief executive officer now directly owns 43,379 shares of the company’s stock, valued at $2,106,050.45. The trade was a 4.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, February 21st, Joseph Wm Foran bought 6,000 shares of Matador Resources stock. The stock was acquired at an average cost of $53.94 per share, for a total transaction of $323,640.00.
• On Friday, December 6th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The stock was bought at an average price of $55.18 per share, with a total value of $110,360.00.

Matador Resources Price Performance

MTDR stock opened at $47.70 on Tuesday. The company has a market capitalization of $5.97 billion, a P/E ratio of 6.68 and a beta of 3.22. The business has a 50 day simple moving average of $58.01 and a 200-day simple moving average of $55.71. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. As a group, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 28th. Matador Resources’s payout ratio is 17.51%.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after buying an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Matador Resources by 16.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after purchasing an additional 65,487 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after purchasing an additional 13,583 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Matador Resources by 16.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after purchasing an additional 20,172 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Matador Resources in the third quarter valued at about $10,526,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MTDR shares. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Wednesday, January 15th. Wells Fargo & Company upped their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley assumed coverage on shares of Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price on the stock. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Friday, January 3rd. Finally, Truist Financial raised their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $75.14.

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.