Matador Resources (NYSE:MTDR) Stock: Insider Joseph Wm Foran Buys 2,500 Shares

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

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

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

Matador Resources Trading Up 1.2%

Shares of Matador Resources stock traded up $0.64 during trading on Friday, reaching $53.45. 1,781,522 shares of the company were exchanged, compared to its average volume of 1,714,084. The business has a 50-day moving average price of $55.52 and a 200-day moving average price of $54.73. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 9.22 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. Matador Resources Company has a twelve month low of $39.55 and a twelve month high of $66.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.23. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The firm’s revenue was up 33.9% on a year-over-year basis. Sell-side analysts anticipate that Matador Resources Company will post 8.34 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, November 10th. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s dividend payout ratio is presently 30.17%.

Matador Resources News Roundup

Investors following MTDR have been watching these news items:

• Positive Sentiment: The company raised its quarterly dividend to $0.4375 from $0.375, a roughly 17% increase that supports the income case for the stock. Article: Matador Resources CEO Purchases Stock
• Neutral Sentiment: Wells Fargo trimmed its price target from $72 to $71 but retained its Overweight rating, signaling continued optimism despite the modest reduction.
• Negative Sentiment: UBS lowered its target from $64 to $62 and maintained a Neutral/Hold stance, tempering the positive signals from insider buying and the dividend increase. Article: UBS Adjusts Matador Resources Price Target

Analyst Ratings Changes

A number of brokerages recently weighed in on MTDR. Citigroup cut their price target on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Stephens lifted their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Seaport Research Partners initiated coverage on shares of Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Morgan Stanley upped their target price on shares of Matador Resources from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Finally, Scotiabank initiated coverage on shares of Matador Resources in a research note on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 target price for the company. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Hsbc Holdings PLC increased its holdings in Matador Resources by 935.4% during the 2nd quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock worth $2,824,000 after purchasing an additional 50,678 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Matador Resources in the second quarter valued at about $605,000. Quantbot Technologies LP bought a new stake in shares of Matador Resources in the second quarter valued at about $3,682,000. BlackRock Inc. bought a new stake in shares of Matador Resources in the second quarter valued at about $573,936,000. Finally, Morningstar Investment Management LLC acquired a new position in shares of Matador Resources during the first quarter worth about $2,630,000. 91.98% of the stock is currently owned by institutional investors.

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.