Joseph Wm Foran Acquires 468 Shares of Matador Resources (NYSE:MTDR) Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran bought 468 shares of Matador Resources stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average price of $49.78 per share, with a total value of $23,297.04. Following the completion of the acquisition, the chief executive officer directly owned 2,322 shares of the company’s stock, valued at $115,589.16. This represents a 25.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $53.56 on Thursday. The company has a market capitalization of $6.65 billion, a PE ratio of 8.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. The stock has a fifty day moving average of $45.64 and a 200-day moving average of $44.59. Matador Resources Company has a one year low of $35.19 and a one year high of $55.29.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. During the same period in the previous year, the firm posted $1.83 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, February 27th. Matador Resources’s payout ratio is presently 24.59%.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently modified their holdings of the stock. MidFirst Bank acquired a new stake in Matador Resources during the fourth quarter valued at $214,000. Invesco Ltd. raised its stake in shares of Matador Resources by 45.9% during the 4th quarter. Invesco Ltd. now owns 594,849 shares of the energy company’s stock worth $25,245,000 after purchasing an additional 187,178 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Matador Resources during the 4th quarter valued at about $340,000. Virtus Investment Advisers LLC bought a new stake in shares of Matador Resources in the 4th quarter valued at approximately $165,000. Finally, Wellington Management Group LLP grew its stake in shares of Matador Resources by 65.0% in the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after buying an additional 1,342,145 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a research report on Thursday, December 18th. Citigroup initiated coverage on shares of Matador Resources in a research report on Monday, December 8th. They set a “buy” rating and a $53.00 price objective on the stock. Royal Bank Of Canada reduced their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. KeyCorp reaffirmed an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. Finally, Mizuho upped their price target on Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.