Matador Resources Company (NYSE:MTDR) Announces Quarterly Dividend of $0.44

Matador Resources Company (NYSE:MTDR) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.4375 per share by the energy company on Friday, December 4th. This represents a $1.75 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 16.7% increase from Matador Resources’s previous quarterly dividend of $0.3750.

Matador Resources has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $9.41 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 15.9%.

Matador Resources Trading Down 1.7%

Matador Resources stock traded down $0.97 during trading hours on Thursday, hitting $56.78. The company had a trading volume of 333,629 shares, compared to its average volume of 1,841,657. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84. The firm has a market cap of $7.03 billion, a P/E ratio of 9.71 and a beta of 0.98. The company has a 50-day moving average price of $56.22 and a two-hundred day moving average price of $55.15. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The business’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 EPS. On average, sell-side analysts anticipate that Matador Resources will post 7.62 earnings per share for the current year.

Insider Activity at Matador Resources

In other news, CEO Joseph Foran acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $52.16 per share, for a total transaction of $521,600.00. Following the acquisition, the chief executive officer owned 25,617 shares in the company, valued at approximately $1,336,182.72. This represents a 64.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Elsener purchased 850 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $50.94 per share, with a total value of $43,299.00. Following the completion of the transaction, the executive vice president directly owned 114,879 shares of the company’s stock, valued at $5,851,936.26. This represents a 0.75% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 23,144 shares of company stock valued at $1,211,793. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in shares of Matador Resources in the third quarter worth $25,000. Center for Financial Planning Inc. purchased a new stake in Matador Resources during the 1st quarter worth about $41,000. Altshuler Shaham Ltd increased its stake in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after buying an additional 201 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Matador Resources during the second quarter worth $44,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.