Matador Resources (NYSE:MTDR) Director Acquires $13,818.75 in Stock

Matador Resources Company (NYSE:MTDR) Director Shelley Appel bought 275 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were bought at an average cost of $50.25 per share, with a total value of $13,818.75. Following the completion of the transaction, the director owned 2,059 shares in the company, valued at $103,464.75. The trade was a 15.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Matador Resources Stock Up 3.5%

Shares of MTDR opened at $52.10 on Thursday. The company has a market capitalization of $6.45 billion, a PE ratio of 8.98 and a beta of 0.93. Matador Resources Company has a 12 month low of $39.55 and a 12 month high of $66.84. The stock’s 50-day moving average price is $55.78 and its two-hundred day moving average price is $54.62. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.23. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.12 billion. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The business’s revenue was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. On average, analysts anticipate that Matador Resources Company will post 8.34 EPS for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be paid a $0.4375 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources’s payout ratio is presently 30.17%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MTDR. Advisors Asset Management Inc. bought a new stake in shares of Matador Resources during the 3rd quarter valued at about $885,000. GW&K Investment Management LLC increased its holdings in Matador Resources by 2.1% in the third quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company’s stock worth $72,527,000 after purchasing an additional 28,704 shares in the last quarter. Heartland Advisors Inc. increased its holdings in Matador Resources by 6.2% in the third quarter. Heartland Advisors Inc. now owns 142,668 shares of the energy company’s stock worth $7,359,000 after purchasing an additional 8,350 shares in the last quarter. Boston Partners bought a new stake in Matador Resources in the third quarter worth approximately $1,534,000. Finally, Voya Investment Management LLC lifted its stake in Matador Resources by 146.9% in the third quarter. Voya Investment Management LLC now owns 27,429 shares of the energy company’s stock valued at $1,415,000 after buying an additional 16,320 shares during the period. 91.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on MTDR shares. Wells Fargo & Company reduced their target price on Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Stephens increased their target price on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. UBS Group raised their price target on shares of Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Truist Financial boosted their price target on shares of Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, Weiss Ratings downgraded shares of Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company’s operations and serving other producers in the region.