Insider Buying: Matador Resources (NYSE:MTDR) CEO Acquires 2,000 Shares of Stock

Key Points

• Matador Resources CEO Joseph Wm Foran bought 2,000 shares on June 4 at an average price of $56.25, a $112,500 transaction that lifted his direct ownership to 9,479 shares.
• The CEO has been actively accumulating shares in recent days, including purchases of 482 shares on May 29 and 4,675 shares on May 27.
• MTDR stock rose 3.3% to $55.32, while the company also recently reported better-than-expected quarterly EPS and maintained a quarterly dividend yielding about 2.7%.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $56.25 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the chief executive officer directly owned 9,479 shares in the company, valued at approximately $533,193.75. The trade was a 26.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, May 29th, Joseph Wm Foran purchased 482 shares of Matador Resources stock. The stock was acquired at an average price of $52.70 per share, for a total transaction of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran purchased 4,675 shares of Matador Resources stock. The stock was acquired at an average price of $52.36 per share, for a total transaction of $244,783.00.

Matador Resources Stock Up 3.3%

MTDR stock traded up $1.75 during midday trading on Monday, hitting $55.32. The company's stock had a trading volume of 1,275,390 shares, compared to its average volume of 1,864,705. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The company's fifty day moving average price is $59.01 and its 200 day moving average price is $51.01. The stock has a market capitalization of $6.87 billion, a P/E ratio of 14.22 and a beta of 0.75.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) 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 period in the previous year, the business earned $1.99 EPS. The company's revenue was down 33.8% compared to the same quarter last year. As a group, equities research analysts predict that Matador Resources Company will post 7.47 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, May 8th. Matador Resources's payout ratio is presently 38.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTDR. TD Cowen lifted their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, March 17th. Citigroup decreased their price objective on shares of Matador Resources from $77.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, May 26th. KeyCorp lifted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, April 2nd. BMO Capital Markets lifted their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.08.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of MTDR. Kestra Investment Management LLC boosted its holdings in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after buying an additional 358 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Matador Resources during the 1st quarter worth about $27,000. Rothschild Investment LLC boosted its holdings in shares of Matador Resources by 5,927.3% during the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company's stock worth $30,000 after buying an additional 652 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources during the 3rd quarter worth about $35,000. Finally, Center for Financial Planning Inc. bought a new stake in shares of Matador Resources during the 1st quarter worth about $41,000. Institutional investors own 91.98% of the company's stock.

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.

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