Joseph Wm Foran Buys 4,675 Shares of Matador Resources (NYSE:MTDR) Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran purchased 4,675 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $52.36 per share, with a total value of $244,783.00. Following the acquisition, the chief executive officer owned 6,997 shares in the company, valued at $366,362.92. This represents a 201.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, February 27th, Joseph Wm Foran purchased 468 shares of Matador Resources stock. The stock was bought at an average cost of $49.78 per share, with a total value of $23,297.04.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.56 on Friday. The firm has a market cap of $6.65 billion, a PE ratio of 13.77 and a beta of 0.81. The firm has a fifty day moving average of $59.38 and a 200 day moving average of $50.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. Matador Resources Company has a one year low of $37.14 and a one year high of $66.84.

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

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 8th. Matador Resources’s payout ratio is 38.56%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Wells Fargo & Company lifted their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Morgan Stanley lifted their target price on shares of Matador Resources from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. KeyCorp lifted their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MTDR. CIBC Bancorp USA Inc. acquired a new position in shares of Matador Resources during the 3rd quarter valued at about $61,615,000. Wellington Management Group LLP boosted its position in shares of Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after acquiring an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Matador Resources during the 4th quarter valued at about $53,249,000. First Trust Advisors LP boosted its position in shares of Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after acquiring an additional 810,808 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Matador Resources by 2,495.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Company Profile

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.