Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Purchases 2,500 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Foran acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were bought at an average price of $49.29 per share, with a total value of $123,225.00. Following the completion of the purchase, the chief executive officer owned 12,272 shares in the company, valued at $604,886.88. This trade represents a 25.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Joseph Wm Foran also recently made the following trade(s):

• On Thursday, November 5th, Joseph Foran bought 5,000 shares of Matador Resources stock. The stock was purchased at an average cost of $51.36 per share, with a total value of $256,800.00.
• On Wednesday, August 26th, Joseph Foran bought 555 shares of Matador Resources stock. The stock was purchased at an average cost of $54.49 per share, with a total value of $30,241.95.
• On Monday, August 17th, Joseph Foran bought 400 shares of Matador Resources stock. The shares were purchased at an average price of $53.64 per share, for a total transaction of $21,456.00.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $52.79 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.55 and a quick ratio of 0.53. Matador Resources Company has a 1-year low of $39.55 and a 1-year high of $66.84. The company has a market capitalization of $6.53 billion, a P/E ratio of 9.10 and a beta of 0.93. The firm’s 50 day simple moving average is $55.64 and its two-hundred day simple moving average is $54.68.

Matador Resources (NYSE:MTDR) last posted its quarterly 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. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.12 billion. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The company’s revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. Research analysts expect that Matador Resources Company will post 8.34 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.75 annualized dividend and a yield of 3.3%. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s payout ratio is currently 30.17%.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in Matador Resources by 16.1% in the 2nd quarter. Allworth Financial LP now owns 1,270 shares of the energy company’s stock worth $63,000 after purchasing an additional 176 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Matador Resources by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,338 shares of the energy company’s stock valued at $1,255,000 after purchasing an additional 200 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after purchasing an additional 201 shares in the last quarter. Smith Group Asset Management LLC grew its position in shares of Matador Resources by 1.6% during the third quarter. Smith Group Asset Management LLC now owns 12,941 shares of the energy company’s stock valued at $667,000 after purchasing an additional 208 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of Matador Resources by 2.6% during the third quarter. Crossmark Global Holdings Inc. now owns 8,536 shares of the energy company’s stock valued at $440,000 after purchasing an additional 214 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTDR has been the subject of a number of analyst reports. UBS Group cut their price target on Matador Resources from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday. Stifel Nicolaus began coverage on Matador Resources in a research report on Thursday, September 10th. They issued a “buy” rating and a $66.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Matador Resources from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday. Stephens increased their target price on Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, Truist Financial increased their target price on Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.00.

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.