Matador Resources (NYSE:MTDR) CEO Acquires $106,140.00 in Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the acquisition, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This trade represents a 21.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, June 4th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were bought at an average price of $56.25 per share, for a total transaction of $112,500.00.
• On Friday, May 29th, Joseph Wm Foran acquired 482 shares of Matador Resources stock. The shares were bought at an average price of $52.70 per share, for a total transaction of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran acquired 4,675 shares of Matador Resources stock. The shares were bought at an average price of $52.36 per share, for a total transaction of $244,783.00.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.98 on Friday. The firm’s 50-day moving average price is $58.08 and its 200-day moving average price is $51.41. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The firm has a market capitalization of $6.70 billion, a P/E ratio of 13.88 and a beta of 0.74. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the prior year, the business earned $1.99 earnings per share. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources Company will post 7.5 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. Matador Resources’s payout ratio is presently 38.56%.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Matador Resources by 184.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after buying an additional 20,011 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Matador Resources in the 3rd quarter worth approximately $61,615,000. Wedge Capital Management L L P NC boosted its stake in shares of Matador Resources by 25.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock worth $3,312,000 after buying an additional 15,859 shares during the last quarter. LSV Asset Management boosted its stake in shares of Matador Resources by 5.9% in the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock worth $158,706,000 after buying an additional 197,528 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Matador Resources by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock worth $664,105,000 after buying an additional 101,613 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MTDR shares. UBS Group boosted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Truist Financial raised shares of Matador Resources from a “hold” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, May 12th. TD Cowen boosted their target price on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Morgan Stanley boosted their target price on shares of Matador Resources from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Finally, Mizuho boosted their target price on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and a consensus target price of $65.08.

Matador Resources Company Profile

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.