Matador Resources (NYSE:MTDR) Director Paul W. Harvey Buys 600 Shares of Stock

Matador Resources (NYSE:MTDR) Director Paul W. Harvey purchased 600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $55.20 per share, with a total value of $33,120.00. Following the completion of the transaction, the director now directly owns 27,917 shares of the company’s stock, valued at $1,541,018.40. The trade was a 2.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Matador Resources Price Performance

Matador Resources stock opened at $52.42 on Wednesday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The business has a fifty day moving average price of $58.05 and a 200-day moving average price of $55.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The firm has a market capitalization of $6.54 billion, a P/E ratio of 7.34 and a beta of 3.22.

Matador Resources (NYSE:MTDR) last issued 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). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. As a group, equities research analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is 17.51%.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. LSV Asset Management raised its position in shares of Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after buying an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Matador Resources by 145.2% in the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after buying an additional 760,122 shares in the last quarter. Webs Creek Capital Management LP purchased a new stake in shares of Matador Resources in the fourth quarter worth $37,894,000. Yaupon Capital Management LP raised its position in Matador Resources by 565.4% during the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock valued at $36,770,000 after purchasing an additional 632,218 shares in the last quarter. Finally, Alliancebernstein L.P. raised 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 in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

MTDR has been the subject of a number of research analyst reports. Truist Financial increased their price target on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th. Finally, Morgan Stanley started coverage on Matador Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.14.

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.