Matador Resources (NYSE:MTDR) Director Purchases $20,017.50 in Stock

Matador Resources Company (NYSE:MTDR) Director Shelley Appel purchased 510 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of $39.25 per share, with a total value of $20,017.50. Following the completion of the purchase, the director directly owned 65,521 shares in the company, valued at $2,571,699.25. The trade was a 0.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Matador Resources Trading Down 0.6%

NYSE MTDR traded down $0.22 on Monday, reaching $39.24. The company had a trading volume of 1,967,395 shares, compared to its average volume of 1,757,470. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 6.27 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 business has a 50 day moving average of $45.48 and a two-hundred day moving average of $46.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data 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 business had revenue of $939.02 million during 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%.Matador Resources’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. Analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.8%. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, November 10th. Matador Resources’s dividend payout ratio is currently 23.96%.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. Adage Capital Partners GP L.L.C. boosted its position in shares of Matador Resources by 143.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after purchasing an additional 1,505,000 shares in the last quarter. LSV Asset Management lifted its stake in shares of Matador Resources by 45.7% in the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after buying an additional 1,045,396 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Matador Resources by 7.6% during the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company’s stock valued at $690,310,000 after buying an additional 956,090 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Matador Resources during the second quarter valued at about $37,194,000. Finally, Nuveen LLC bought a new stake in shares of Matador Resources during the first quarter worth about $35,715,000. Institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. UBS Group dropped their price objective on Matador Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating and set a $55.00 target price (down previously from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada boosted their price target on Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.57.

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.