Joseph Wm Foran Purchases 555 Shares of Matador Resources (NYSE:MTDR) Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran acquired 555 shares of the stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $54.49 per share, for a total transaction of $30,241.95. Following the acquisition, the chief executive officer directly owned 4,772 shares in the company, valued at $260,026.28. This represents a 13.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, August 17th, Joseph Wm Foran acquired 400 shares of Matador Resources stock. The stock was acquired at an average price of $53.64 per share, with a total value of $21,456.00.
• On Thursday, August 13th, Joseph Wm Foran purchased 5,000 shares of Matador Resources stock. The shares were bought at an average cost of $51.44 per share, for a total transaction of $257,200.00.
• On Wednesday, August 12th, Joseph Wm Foran bought 10,000 shares of Matador Resources stock. The shares were bought at an average price of $52.16 per share, for a total transaction of $521,600.00.
• On Tuesday, August 11th, Joseph Wm Foran purchased 709 shares of Matador Resources stock. The shares were purchased at an average cost of $51.68 per share, for a total transaction of $36,641.12.
• On Monday, August 10th, Joseph Wm Foran purchased 3,130 shares of Matador Resources stock. The stock was purchased at an average price of $51.04 per share, for a total transaction of $159,755.20.
• On Tuesday, June 9th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The stock was purchased at an average price of $53.07 per share, for a total transaction of $106,140.00.
• On Thursday, June 4th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The stock was purchased at an average cost of $56.25 per share, with a total value of $112,500.00.

Matador Resources Stock Performance

Shares of MTDR stock opened at $56.42 on Friday. The stock has a fifty day moving average price of $52.05 and a 200 day moving average price of $54.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. The stock has a market cap of $6.98 billion, a PE ratio of 9.68 and a beta of 0.76. Matador Resources Company has a 1 year low of $37.14 and a 1 year high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. Sell-side analysts forecast that Matador Resources Company will post 7.26 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s payout ratio is presently 25.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MTDR shares. Truist Financial reduced their target price on Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Morgan Stanley dropped their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, June 22nd. Stephens upped their price objective on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, Zacks Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.07.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently added to or reduced their stakes in MTDR. Kestra Investment Management LLC increased its position in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources in the 1st quarter valued at $27,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Matador Resources in the 3rd quarter valued at $35,000. Center for Financial Planning Inc. purchased a new stake in shares of Matador Resources during the 1st quarter valued at $41,000. Finally, Gilpin Wealth Management LLC acquired a new stake in shares of Matador Resources during the 4th quarter worth $42,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.