Matador Resources (NYSE:MTDR) CEO Purchases $25,401.40 in Stock

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

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

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

Matador Resources Price Performance

MTDR opened at $55.68 on Friday. The stock has a fifty day simple moving average of $59.16 and a two-hundred day simple moving average of $50.92. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 14.31 and a beta of 0.74. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84.

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

Matador Resources Dividend Announcement

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

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Matador Resources in the first quarter worth $27,000. Kestra Investment Management LLC grew its stake in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of Matador Resources in the first quarter worth $41,000. Rothschild Investment LLC grew its stake 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 worth $30,000 after acquiring an additional 652 shares during the last quarter. Finally, Altshuler Shaham Ltd grew its stake in shares of Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of research reports. Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Roth Mkm reiterated a “neutral” rating and issued a $65.00 price objective (up from $52.00) on shares of Matador Resources in a report on Wednesday, April 8th. Morgan Stanley increased their price objective on Matador Resources from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. BMO Capital Markets increased their price objective on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, UBS Group increased their price objective on Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.08.

About Matador Resources

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.