Insider Buying: Matador Resources (NYSE:MTDR) COO Buys $26,705.00 in Stock

Matador Resources Company (NYSE:MTDR) COO Glenn Stetson bought 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the purchase, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matador Resources Price Performance

Shares of MTDR stock opened at $53.98 on Friday. The company has a market capitalization of $6.70 billion, a PE ratio of 13.88 and a beta of 0.74. The firm has a fifty day simple moving average of $58.08 and a 200-day simple moving average of $51.41. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.41% and a return on equity of 11.20%. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.99 earnings per share. Equities research analysts anticipate that Matador Resources Company will post 7.5 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $0.375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s dividend payout ratio is 38.56%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MTDR shares. Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. KeyCorp upped their target price on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Citigroup decreased their target price on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Finally, TD Cowen increased their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Ten investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $65.08.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC boosted its stake in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources during the first quarter worth $27,000. Rothschild Investment LLC raised its holdings in shares of Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources during the third quarter worth $35,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of Matador Resources during the first quarter worth $41,000. 91.98% of the stock is currently owned by institutional investors.

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.