Insider Buying: Matador Resources (NYSE:MTDR) EVP Acquires $23,745.00 in Stock

Matador Resources (NYSE:MTDR) EVP Glenn W. Stetson purchased 500 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $47.49 per share, for a total transaction of $23,745.00. Following the purchase, the executive vice president now directly owns 92,180 shares of the company’s stock, valued at $4,377,628.20. This trade represents a 0.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matador Resources Stock Down 0.6 %

NYSE:MTDR opened at $52.29 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The company has a market cap of $6.55 billion, a PE ratio of 7.32 and a beta of 3.17. Matador Resources has a 52-week low of $43.89 and a 52-week high of $71.08. The stock has a 50-day simple moving average of $55.58 and a 200 day simple moving average of $54.86.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, sell-side analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.39%. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Matador Resources by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock valued at $706,375,000 after purchasing an additional 187,633 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Matador Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock valued at $306,313,000 after purchasing an additional 30,184 shares during the last quarter. Alliancebernstein L.P. boosted its position in Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after purchasing an additional 555,245 shares during the last quarter. Geode Capital Management LLC boosted its position in Matador Resources by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after purchasing an additional 36,921 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Matador Resources by 18.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock valued at $93,952,000 after purchasing an additional 258,958 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MTDR. Truist Financial upped their price target on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Wells Fargo & Company upped their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Stephens upped their price target on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Raymond James cut their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.20.

About Matador Resources

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.