Insider Buying: Matador Resources (NYSE:MTDR) COO Buys $26,970.00 in Stock

Matador Resources Company (NYSE:MTDRGet Free Report) COO Glenn Stetson purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $53.94 per share, for a total transaction of $26,970.00. Following the completion of the purchase, the chief operating officer directly owned 94,970 shares of the company’s stock, valued at $5,122,681.80. This represents a 0.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Matador Resources Trading Up 1.1%

MTDR stock opened at $56.62 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The company’s 50-day simple moving average is $59.27 and its 200 day simple moving average is $50.82. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a market capitalization of $7.03 billion, a PE ratio of 14.56 and a beta of 0.74.

Matador Resources (NYSE:MTDRGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. Matador Resources’s revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.99 earnings per share. As a group, sell-side analysts anticipate that Matador Resources Company will post 7.36 earnings per share for the current 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 paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, May 8th. Matador Resources’s dividend payout ratio is presently 38.56%.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently made changes to their positions in the stock. Kestra Investment Management LLC boosted its stake in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $27,000. Rothschild Investment LLC boosted its stake in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources in the 3rd quarter valued at approximately $35,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $41,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Matador Resources

Here are the key news stories impacting Matador Resources this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MTDR shares. Truist Financial upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, May 12th. TD Cowen increased their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Morgan Stanley increased their price objective 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 increased their price objective 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, Wells Fargo & Company increased their price objective 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. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.08.

View Our Latest Stock Analysis on MTDR

Matador Resources Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Matador Resources (NYSE:MTDR)

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