Matador Resources (NYSE:MTDR) CEO Acquires $52,740.60 in Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran bought 1,342 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was acquired at an average cost of $39.30 per share, with a total value of $52,740.60. Following the completion of the transaction, the chief executive officer directly owned 18,867 shares of the company’s stock, valued at approximately $741,473.10. This represents a 7.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, October 30th, Joseph Wm Foran acquired 9,500 shares of Matador Resources stock. The shares were purchased at an average cost of $39.78 per share, with a total value of $377,910.00.
• On Friday, September 12th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was purchased at an average price of $48.15 per share, for a total transaction of $96,300.00.
• On Tuesday, August 19th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was purchased at an average price of $46.25 per share, for a total transaction of $92,500.00.

Matador Resources Stock Up 0.3%

MTDR stock opened at $39.46 on Monday. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 6.30 and a beta of 1.41. The company has a 50-day moving average of $45.48 and a two-hundred day moving average of $46.29. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.14. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The company had revenue of $939.02 million for the quarter, compared to the consensus estimate of $893.22 million. During the same period last year, the business posted $1.89 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be given a dividend of $0.375 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, November 10th. Matador Resources’s dividend payout ratio (DPR) is presently 23.96%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MTDR. KeyCorp lowered their price objective on Matador Resources from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research note on Tuesday, October 14th. Bank of America dropped their price objective on shares of Matador Resources from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Raymond James Financial restated an “outperform” rating and issued a $55.00 price objective (down previously from $63.00) on shares of Matador Resources in a research note on Monday, October 20th. Finally, Morgan Stanley dropped their price objective on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $63.93.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in Matador Resources during the 1st quarter valued at about $26,000. Kestra Investment Management LLC increased its position in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Finally, Allworth Financial LP increased its position in Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after acquiring an additional 364 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

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.