Matador Resources (NYSE:MTDR) Stock: Insider Joseph Wm Foran Buys 5,000 Shares

Matador Resources Company (NYSE:MTDR) CEO Joseph Foran acquired 5,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $51.36 per share, for a total transaction of $256,800.00. Following the purchase, the chief executive officer directly owned 9,772 shares in the company, valued at approximately $501,889.92. The trade was a 104.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, August 26th, Joseph Foran bought 555 shares of Matador Resources stock. The stock was acquired at an average price of $54.49 per share, for a total transaction of $30,241.95.
• On Monday, August 17th, Joseph Foran bought 400 shares of Matador Resources stock. The shares were acquired at an average cost of $53.64 per share, with a total value of $21,456.00.
• On Thursday, August 13th, Joseph Foran bought 5,000 shares of Matador Resources stock. The shares were acquired at an average price of $51.44 per share, with a total value of $257,200.00.
• On Wednesday, August 12th, Joseph Foran acquired 10,000 shares of Matador Resources stock. The shares were bought at an average cost of $52.16 per share, with a total value of $521,600.00.
• On Tuesday, August 11th, Joseph Foran bought 709 shares of Matador Resources stock. The stock was bought at an average price of $51.68 per share, for a total transaction of $36,641.12.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $50.31 on Wednesday. The stock’s fifty day simple moving average is $55.92 and its 200 day simple moving average is $54.58. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 8.67 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. Matador Resources Company has a 52-week low of $39.55 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.85 by $0.23. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business posted $1.36 earnings per share. Matador Resources’s revenue was up 33.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, November 10th. This is a boost from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s dividend payout ratio is presently 25.86%.

Key Matador Resources News

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Company insiders made substantial open-market purchases. CEO Joseph Foran bought 5,000 shares for about $256,800, and COO Glenn Stetson purchased 1,000 shares. Directors Shelley Appel and Paul Harvey also bought shares, bringing the reported purchases to roughly $401,000 in total. Insider buying can signal confidence in the company’s outlook. Insider transactions
• Positive Sentiment: Wall Street Zen upgraded MTDR from “buy” to “strong buy,” adding a favorable analyst signal. Wall Street Zen upgrade
• Positive Sentiment: Matador raised its quarterly dividend to $0.4375 per share from $0.375, an increase of about 17%, offering investors a higher payout.
• Positive Sentiment: The latest reported quarter also showed earnings of $2.08 per share, above the $1.85 consensus estimate, while revenue rose 33.9% year over year.

Wall Street Analyst Weigh In

Several brokerages have commented on MTDR. UBS Group raised their target price on shares of Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Morgan Stanley boosted their price target on shares of Matador Resources from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Mizuho reduced their price target on shares of Matador Resources from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Stifel Nicolaus began coverage on shares of Matador Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $66.00 price objective for the company. Finally, Seaport Research Partners initiated coverage on shares of Matador Resources in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average target price of $68.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Boston Partners acquired a new position in shares of Matador Resources in the 3rd quarter valued at about $1,534,000. Voya Investment Management LLC lifted its position in shares of Matador Resources by 146.9% in the third quarter. Voya Investment Management LLC now owns 27,429 shares of the energy company’s stock worth $1,415,000 after purchasing an additional 16,320 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Matador Resources by 8.0% during the third quarter. Global Retirement Partners LLC now owns 3,604 shares of the energy company’s stock worth $186,000 after purchasing an additional 267 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Matador Resources by 260.8% during the third quarter. First Eagle Investment Management LLC now owns 216,500 shares of the energy company’s stock worth $11,167,000 after purchasing an additional 156,500 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Matador Resources during the third quarter worth approximately $8,691,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company’s operations and serving other producers in the region.