Matador Resources (NYSE:MTDR) Stock: Insider Shelley Appel Acquires 1,075 Shares

Matador Resources Company (NYSE:MTDR) Director Shelley Appel acquired 1,075 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were acquired at an average cost of $49.96 per share, with a total value of $53,707.00. Following the completion of the purchase, the director owned 3,950 shares in the company, valued at approximately $197,342. This represents a 37.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Matador Resources Stock Performance

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

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

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s dividend payout ratio is presently 25.86%.

Wall Street Analyst Weigh In

MTDR has been the topic of several analyst reports. KeyCorp raised their price target on shares of Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th. Morgan Stanley raised their target price on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Truist Financial lifted their target price on shares of Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Scotiabank began coverage on Matador Resources in a report on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 price target for the company. Finally, Stifel Nicolaus began coverage on Matador Resources in a research note on Thursday, September 10th. They set a “buy” rating and a $66.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Matador Resources News Roundup

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.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Allworth Financial LP grew its holdings in shares of Matador Resources by 16.1% during the 2nd quarter. Allworth Financial LP now owns 1,270 shares of the energy company’s stock worth $63,000 after purchasing an additional 176 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Matador Resources by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,338 shares of the energy company’s stock valued at $1,255,000 after purchasing an additional 200 shares in the last quarter. Altshuler Shaham Ltd raised its position in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after purchasing an additional 201 shares during the period. Smith Group Asset Management LLC lifted its stake in shares of Matador Resources by 1.6% during the third quarter. Smith Group Asset Management LLC now owns 12,941 shares of the energy company’s stock worth $667,000 after purchasing an additional 208 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Matador Resources by 2.6% in the third quarter. Crossmark Global Holdings Inc. now owns 8,536 shares of the energy company’s stock worth $440,000 after buying an additional 214 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Company Profile

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.