Insider Buying: Matador Resources (NYSE:MTDR) CEO Buys $123,225.00 in Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Foran purchased 2,500 shares of Matador Resources stock in a transaction dated Tuesday, November 10th. The stock was bought at an average price of $49.29 per share, for a total transaction of $123,225.00. Following the completion of the purchase, the chief executive officer owned 12,272 shares in the company, valued at $604,886.88. This represents a 25.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, November 5th, Joseph Foran purchased 5,000 shares of Matador Resources stock. The shares were bought at an average cost of $51.36 per share, for a total transaction of $256,800.00.
• On Wednesday, August 26th, Joseph Foran purchased 555 shares of Matador Resources stock. The shares were bought at an average cost of $54.49 per share, for a total transaction of $30,241.95.
• On Monday, August 17th, Joseph Foran acquired 400 shares of Matador Resources stock. The shares were bought at an average price of $53.64 per share, with a total value of $21,456.00.

Matador Resources Price Performance

NYSE:MTDR traded up $0.64 on Friday, hitting $53.45. The company had a trading volume of 1,781,522 shares, compared to its average volume of 1,714,084. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 9.22 and a beta of 0.93. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $55.52 and a two-hundred day moving average of $54.73. Matador Resources Company has a 52 week low of $39.55 and a 52 week high of $66.84.

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

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders 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 dividend yield of 3.3%. This is a boost from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date is Tuesday, November 10th. Matador Resources’s dividend payout ratio (DPR) is currently 30.17%.

Latest Matador Resources News

Investors following MTDR have been watching these news items:

• Positive Sentiment: CEO Joseph Foran bought 2,500 shares for about $123,225 at $49.29 per share, increasing his direct ownership by 25.58%. Insider buying can signal confidence in the company. Article: Matador Resources CEO Purchases Stock
• Positive Sentiment: The company raised its quarterly dividend to $0.4375 from $0.375, a roughly 17% increase that supports the income case for the stock. Article: Matador Resources CEO Purchases Stock
• Neutral Sentiment: Wells Fargo trimmed its price target from $72 to $71 but retained its Overweight rating, signaling continued optimism despite the modest reduction.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Matador Resources during the second quarter valued at $573,936,000. Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after purchasing an additional 277,839 shares during the period. First Trust Advisors LP lifted its holdings in shares of Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after purchasing an additional 810,808 shares during the period. GW&K Investment Management LLC grew its stake in shares of Matador Resources by 2.1% in the third quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company’s stock worth $72,527,000 after purchasing an additional 28,704 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Matador Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock worth $74,934,000 after purchasing an additional 26,205 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTDR. Seaport Research Partners initiated coverage on Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Weiss Ratings cut Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. KeyCorp upped their target price on Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Wells Fargo & Company dropped their target price on Matador Resources from $72.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday. 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.