Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Purchases 2,500 Shares

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $39.63 per share, with a total value of $99,075.00. Following the completion of the acquisition, the chief executive officer now owns 60,756 shares of the company’s stock, valued at approximately $2,407,760.28. The trade was a 4.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, May 5th, Joseph Wm Foran bought 2,500 shares of Matador Resources stock. The shares were bought at an average price of $39.93 per share, with a total value of $99,825.00.
• On Tuesday, April 29th, Joseph Wm Foran purchased 5,000 shares of Matador Resources stock. The stock was bought at an average price of $40.86 per share, for a total transaction of $204,300.00.
• On Monday, March 3rd, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was bought at an average price of $48.55 per share, with a total value of $97,100.00.
• On Friday, February 21st, Joseph Wm Foran purchased 6,000 shares of Matador Resources stock. The shares were purchased at an average price of $53.94 per share, for a total transaction of $323,640.00.

Matador Resources Stock Up 0.1 %

Shares of NYSE MTDR opened at $42.73 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 5.98 and a beta of 1.47. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89. The firm’s 50-day simple moving average is $44.28 and its 200 day simple moving average is $52.58.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. During the same quarter last year, the business posted $1.71 earnings per share. Matador Resources’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, research analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, May 9th. Matador Resources’s dividend payout ratio (DPR) is presently 16.78%.

Matador Resources announced that its Board of Directors has approved a share buyback program on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Franklin Resources Inc. grew its position in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after buying an additional 107,827 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Matador Resources by 16.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after acquiring an additional 20,172 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Matador Resources by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock worth $83,916,000 after acquiring an additional 56,644 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Matador Resources by 49.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company’s stock valued at $16,895,000 after acquiring an additional 99,711 shares during the last quarter. Finally, Shaker Investments LLC OH acquired a new position in shares of Matador Resources in the 4th quarter valued at $546,000. 91.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. KeyCorp decreased their target price on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada dropped their price target on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company lowered their price objective on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

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.