Matador Resources (NYSE:MTDR) Stock: Insider William Thomas Elsener Purchases 900 Shares

Matador Resources Company (NYSE:MTDR) EVP William Elsener bought 900 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $51.48 per share, with a total value of $46,332.00. Following the transaction, the executive vice president owned 115,779 shares of the company’s stock, valued at $5,960,302.92. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

William Thomas Elsener also recently made the following trade(s):

• On Monday, August 10th, William Elsener purchased 850 shares of Matador Resources stock. The shares were acquired at an average price of $50.94 per share, for a total transaction of $43,299.00.

Matador Resources Stock Up 1.0%

NYSE:MTDR opened at $50.38 on Friday. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 8.69 and a beta of 0.93. Matador Resources Company has a 1-year low of $37.74 and a 1-year high of $66.84. The company has a current ratio of 0.55, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average price is $56.21 and its 200 day moving average price is $54.51.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.23. The firm had revenue of $1.39 billion during 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 quarterly revenue was up 33.9% compared to the same quarter last year. During the same period last year, the company posted $1.36 EPS. On average, sell-side analysts forecast that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s payout ratio is currently 25.86%.

Key Stories Impacting Matador Resources

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

• Positive Sentiment: Three executives bought shares on November 5: EVP William Elsener purchased 900 shares, CFO Christopher Calvert bought 2,000, and CAO Benjamin Colodney bought 500. Insider buying can signal confidence in the company’s prospects. Insider purchase report
• Positive Sentiment: Matador’s third-quarter results topped expectations: EPS was $2.08 versus $1.85 expected, while revenue reached $1.39 billion against $1.12 billion expected, up 33.9% year over year. The company also increased its quarterly dividend 17%, to $0.4375 per share. Q3 results presentation
• Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Stifel Nicolaus rating
• Neutral Sentiment: Scotiabank reaffirmed its Hold rating, suggesting a more cautious view alongside the recent Buy calls. Scotiabank rating
• Negative Sentiment: A recent Q3 review pointed to margin compression despite production growth. That could temper the positive earnings and revenue surprises if profitability remains under pressure. Q3 analysis

Wall Street Analyst Weigh In

MTDR has been the topic of several research analyst reports. Stephens boosted their price target on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Truist Financial upped their price target on shares of Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. Seaport Research Partners initiated coverage on Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating for the company. KeyCorp lifted their price objective on Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings upgraded Matador Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in Matador Resources during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $27,000. Center for Financial Planning Inc. acquired a new stake in Matador Resources in the first quarter valued at approximately $41,000. Harbor Investment Advisory LLC bought a new stake in Matador Resources in the second quarter worth approximately $44,000. Finally, Altshuler Shaham Ltd grew its position in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.