Matador Resources (NYSE:MTDR) Stock: Insider Shelley Appel Buys 275 Shares

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

Matador Resources Stock Up 0.7%

MTDR opened at $50.31 on Wednesday. The firm has a market capitalization of $6.23 billion, a P/E ratio of 8.67 and a beta of 0.93. Matador Resources Company has a one year low of $39.55 and a one year high of $66.84. The company has a fifty day moving average price of $55.92 and a 200-day moving average price of $54.58. 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 (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.23. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.12 billion. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The firm’s revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. Equities research analysts expect that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 annualized dividend and a dividend yield of 3.5%. Matador Resources’s payout ratio is presently 25.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTDR. BlackRock Inc. bought a new position in Matador Resources in the 2nd quarter worth $573,936,000. Dimensional Fund Advisors LP boosted its stake in shares of Matador Resources by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after purchasing an additional 277,839 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after purchasing an additional 810,808 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Matador Resources by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock valued at $74,934,000 after buying an additional 26,205 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Matador Resources during the second quarter valued at about $42,184,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources News Summary

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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MTDR shares. Seaport Research Partners initiated coverage on Matador Resources in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Truist Financial increased their price objective on Matador Resources from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Mizuho dropped their price target on shares of Matador Resources from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. UBS Group increased their price target on shares of Matador Resources from $56.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Finally, Wall Street Zen raised shares of Matador Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Matador Resources Company Profile

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.