Insider Buying: Matador Resources (NYSE:MTDR) CEO Purchases 482 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran acquired 482 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $52.70 per share, for a total transaction of $25,401.40. Following the transaction, the chief executive officer owned 7,479 shares of the company’s stock, valued at $394,143.30. This represents a 6.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, May 27th, Joseph Wm Foran acquired 4,675 shares of Matador Resources stock. The shares were bought at an average cost of $52.36 per share, for a total transaction of $244,783.00.

Matador Resources Stock Up 4.6%

Shares of NYSE:MTDR opened at $56.06 on Tuesday. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The stock has a market cap of $6.96 billion, a P/E ratio of 14.41 and a beta of 0.75. The business has a fifty day moving average of $59.36 and a two-hundred day moving average of $50.59. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.99 EPS. On average, research analysts expect that Matador Resources Company will post 7.36 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s payout ratio is 38.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MTDR shares. Citigroup cut their price target on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. KeyCorp upped their price objective on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Mizuho increased their price objective on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Morgan Stanley raised their target price on Matador Resources from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Finally, UBS Group upped their price target on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.08.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the company. Kestra Investment Management LLC increased its stake in Matador Resources by 225.2% during the second 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. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources in the first quarter valued at approximately $27,000. Rothschild Investment LLC grew its holdings in shares of Matador Resources by 5,927.3% in the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Matador Resources during the 3rd quarter worth approximately $35,000. Finally, Center for Financial Planning Inc. purchased a new stake in Matador Resources during the 1st quarter worth approximately $41,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.