Insider Buying: Matador Resources (NYSE:MTDR) CEO Acquires 9,500 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran acquired 9,500 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were bought at an average price of $39.78 per share, for a total transaction of $377,910.00. Following the acquisition, the chief executive officer owned 17,525 shares in the company, valued at approximately $697,144.50. This trade represents a 118.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, October 31st, Joseph Wm Foran acquired 1,342 shares of Matador Resources stock. The shares were bought at an average price of $39.30 per share, for a total transaction of $52,740.60.
• On Friday, September 12th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were bought at an average price of $48.15 per share, for a total transaction of $96,300.00.
• On Tuesday, August 19th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were bought at an average price of $46.25 per share, for a total transaction of $92,500.00.

Matador Resources Price Performance

Shares of MTDR opened at $39.46 on Monday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 6.30 and a beta of 1.41. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. The business’s 50-day moving average is $45.48 and its 200-day moving average is $46.29.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. The company had revenue of $939.02 million for the quarter, compared to the consensus estimate of $893.22 million. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Equities research analysts expect that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MTDR. KeyCorp dropped their target price on Matador Resources from $61.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. William Blair began coverage on Matador Resources in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Morgan Stanley lowered their price target on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. UBS Group lowered their price target on Matador Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, Bank of America decreased their target price on Matador Resources from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently modified their holdings of the business. Chilton Capital Management LLC bought a new stake in shares of Matador Resources in the third quarter valued at approximately $241,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Matador Resources by 2.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 23,469 shares of the energy company’s stock valued at $1,054,000 after acquiring an additional 531 shares during the period. James Investment Research Inc. boosted its position in shares of Matador Resources by 2.8% in the third quarter. James Investment Research Inc. now owns 54,198 shares of the energy company’s stock valued at $2,435,000 after acquiring an additional 1,476 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Matador Resources by 41.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 68,787 shares of the energy company’s stock valued at $3,091,000 after acquiring an additional 20,122 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Matador Resources by 309.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,010 shares of the energy company’s stock valued at $1,438,000 after purchasing an additional 24,195 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

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.