Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Buys 4,000 Shares

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $38.44 per share, for a total transaction of $153,760.00. Following the completion of the purchase, the chief executive officer directly owned 22,867 shares in the company, valued at $879,007.48. This represents a 21.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, October 31st, Joseph Wm Foran bought 1,342 shares of Matador Resources stock. The stock was acquired at an average cost of $39.30 per share, with a total value of $52,740.60.
• On Thursday, October 30th, Joseph Wm Foran bought 9,500 shares of Matador Resources stock. The stock was acquired at an average cost of $39.78 per share, with a total value of $377,910.00.
• On Friday, September 12th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was acquired at an average cost of $48.15 per share, with a total value of $96,300.00.
• On Tuesday, August 19th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was acquired at an average cost of $46.25 per share, with a total value of $92,500.00.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $37.18 on Thursday. The company has a 50-day simple moving average of $44.83 and a 200-day simple moving average of $46.19. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.69 and a current ratio of 0.73. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 5.94 and a beta of 1.35.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $939.02 million during the quarter, compared to analysts’ expectations of $893.22 million. During the same period in the prior year, the company earned $1.89 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, November 10th. Matador Resources’s dividend payout ratio (DPR) is presently 23.96%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company dropped 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 note on Friday, October 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research note on Tuesday, October 14th. Raymond James Financial reiterated an “outperform” rating and set a $55.00 price target (down from $63.00) on shares of Matador Resources in a research note on Monday, October 20th. Finally, UBS Group dropped their price target on shares of Matador Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.57.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of MTDR. D.A. Davidson & CO. purchased a new position in shares of Matador Resources during the first quarter valued at approximately $263,000. Teacher Retirement System of Texas purchased a new position in shares of Matador Resources during the first quarter valued at approximately $885,000. OneDigital Investment Advisors LLC purchased a new position in shares of Matador Resources during the first quarter valued at approximately $200,000. Penserra Capital Management LLC raised its stake in Matador Resources by 89.9% during the first quarter. Penserra Capital Management LLC now owns 15,570 shares of the energy company’s stock worth $795,000 after purchasing an additional 7,369 shares during the period. Finally, M&T Bank Corp raised its stake in Matador Resources by 27.7% during the first quarter. M&T Bank Corp now owns 14,341 shares of the energy company’s stock worth $732,000 after purchasing an additional 3,107 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.