Matador Resources (NYSE:MTDR) CEO Acquires $96,300.00 in Stock

Key Points

• Matador Resources CEO Joseph Wm Foran purchased 2,000 shares at an average cost of $48.15 per share, increasing his total shares owned to 8,025, which is a 33.20% rise in his position.
• The company recently announced a quarterly dividend of $0.3125 per share, paid on September 5th, reflecting an annualized yield of 2.6% and a dividend payout ratio of 18.30%.
• Matador Resources reported a strong quarterly earnings performance, with an EPS of $1.53, exceeding estimates, and a year-over-year revenue increase of 8.2%, totaling $895.31 million.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $48.15 per share, with a total value of $96,300.00. Following the purchase, the chief executive officer directly owned 8,025 shares of the company's stock, valued at approximately $386,403.75. This represents a 33.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, August 19th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The stock was bought at an average price of $46.25 per share, with a total value of $92,500.00.
• On Friday, August 1st, Joseph Wm Foran purchased 5,000 shares of Matador Resources stock. The stock was bought at an average price of $49.17 per share, with a total value of $245,850.00.

Matador Resources Stock Down 4.2%

Shares of Matador Resources stock traded down $1.97 on Friday, hitting $45.36. The company had a trading volume of 827,342 shares, compared to its average volume of 1,670,145. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The stock has a 50-day moving average of $48.92 and a 200-day moving average of $46.83. The firm has a market capitalization of $5.65 billion, a P/E ratio of 6.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. Research analysts predict that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.8%. Matador Resources's payout ratio is 18.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTDR. KeyCorp decreased their price target on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Raymond James Financial lifted their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. William Blair began coverage on shares of Matador Resources in a research report on Monday, August 25th. They issued an "outperform" rating on the stock. Wells Fargo & Company reduced their target price on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Finally, Morgan Stanley upped their target price on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.27.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. MAI Capital Management lifted its position in Matador Resources by 13.9% during the second quarter. MAI Capital Management now owns 1,726 shares of the energy company's stock valued at $82,000 after buying an additional 210 shares during the period. Beacon Pointe Advisors LLC grew its stake in shares of Matador Resources by 4.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company's stock valued at $252,000 after purchasing an additional 216 shares during the period. ProShare Advisors LLC grew its stake in shares of Matador Resources by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company's stock valued at $246,000 after acquiring an additional 220 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Matador Resources by 0.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock worth $2,835,000 after purchasing an additional 244 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Matador Resources by 93.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.