Matador Resources (NYSE:MTDR) Stock: Insider Glenn Stetson Purchases 1,000 Shares

Matador Resources Company (NYSE:MTDR) COO Glenn Stetson acquired 1,000 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $50.80 per share, for a total transaction of $50,800.00. Following the purchase, the chief operating officer directly owned 96,769 shares in the company, valued at approximately $4,915,865.20. This represents a 1.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Matador Resources Price Performance

NYSE:MTDR opened at $50.31 on Wednesday. Matador Resources Company has a 52-week low of $39.55 and a 52-week high of $66.84. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $55.92 and its 200 day moving average price is $54.58. The firm has a market cap of $6.23 billion, a P/E ratio of 8.67 and a beta of 0.93.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.23. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm posted $1.36 earnings per share. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Tuesday, November 10th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend 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 presently 25.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Citigroup dropped their price target on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Scotiabank started coverage on Matador Resources in a report on Thursday, October 15th. They set a “sector perform” rating and a $59.00 price objective on the stock. KeyCorp boosted their price objective on Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Finally, UBS Group upped their price objective on shares of Matador Resources from $56.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 14th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Key Stories Impacting Matador Resources

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

• Positive Sentiment: Company insiders made substantial open-market purchases. CEO Joseph Foran bought 5,000 shares for about $256,800, and COO Glenn Stetson purchased 1,000 shares. Directors Shelley Appel and Paul Harvey also bought shares, bringing the reported purchases to roughly $401,000 in total. Insider buying can signal confidence in the company’s outlook. Insider transactions
• Positive Sentiment: Wall Street Zen upgraded MTDR from “buy” to “strong buy,” adding a favorable analyst signal. Wall Street Zen upgrade
• Positive Sentiment: Matador raised its quarterly dividend to $0.4375 per share from $0.375, an increase of about 17%, offering investors a higher payout.
• Positive Sentiment: The latest reported quarter also showed earnings of $2.08 per share, above the $1.85 consensus estimate, while revenue rose 33.9% year over year.

Institutional Trading of Matador Resources

A number of hedge funds have recently modified their holdings of the business. Boston Partners purchased a new position in shares of Matador Resources during the third quarter valued at $1,534,000. Voya Investment Management LLC raised its position in Matador Resources by 146.9% during 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. Global Retirement Partners LLC raised its position in Matador Resources by 8.0% during the third quarter. Global Retirement Partners LLC now owns 3,604 shares of the energy company’s stock valued at $186,000 after buying an additional 267 shares during the period. First Eagle Investment Management LLC lifted its stake in Matador Resources by 260.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 216,500 shares of the energy company’s stock worth $11,167,000 after acquiring an additional 156,500 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Matador Resources in the 3rd quarter worth about $8,691,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.