Insider Buying: Matador Resources (NYSE:MTDR) CEO Buys 1,000 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was bought at an average cost of $38.14 per share, with a total value of $38,140.00. Following the completion of the purchase, the chief executive officer owned 23,867 shares of the company’s stock, valued at approximately $910,287.38. This represents a 4.37% increase in their position. The acquisition 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 Tuesday, November 4th, Joseph Wm Foran purchased 4,000 shares of Matador Resources stock. The stock was acquired at an average cost of $38.44 per share, with a total value of $153,760.00.
• On Friday, October 31st, Joseph Wm Foran bought 1,342 shares of Matador Resources stock. The stock was acquired at an average price of $39.30 per share, for a total transaction of $52,740.60.
• On Thursday, October 30th, Joseph Wm Foran bought 9,500 shares of Matador Resources stock. The stock was purchased at an average price of $39.78 per share, with a total value of $377,910.00.
• On Friday, September 12th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The shares were acquired at an average cost of $48.15 per share, with a total value of $96,300.00.
• On Tuesday, August 19th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The shares were bought at an average price of $46.25 per share, with a total value of $92,500.00.

Matador Resources Stock Up 0.1%

MTDR opened at $39.38 on Monday. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The company’s 50-day moving average price is $44.37 and its two-hundred day moving average price is $46.21. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 6.31 and a beta of 1.35. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 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 business had revenue of $939.02 million for the quarter, compared to the consensus estimate of $893.22 million. During the same quarter in the prior year, the business earned $1.89 earnings per share. Matador Resources’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be issued a $0.375 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.50 annualized dividend and a yield of 3.8%. Matador Resources’s payout ratio is 23.96%.

Analyst Upgrades and Downgrades

MTDR has been the topic of several recent research reports. KeyCorp dropped their target price 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. UBS Group reduced their target price on Matador Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Bank of America decreased their price target on Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Wells Fargo & Company decreased their target price on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, Morgan Stanley lowered their price objective on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $63.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MCF Advisors LLC purchased a new stake in Matador Resources during the first quarter valued at $26,000. Kestra Investment Management LLC raised 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 worth $25,000 after purchasing an additional 358 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Matador Resources by 298.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake 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 worth $26,000 after buying an additional 267 shares during the period. Finally, Allworth Financial LP lifted its holdings in Matador Resources by 182.0% during the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after buying an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.