Insider Buying: Matador Resources (NYSE:MTDR) CEO Acquires 482 Shares of Stock

Key Points

• Matador Resources CEO Joseph Wm Foran bought shares twice in late May, including 482 shares on May 29 at $52.70 each and 4,675 shares on May 27 at $52.36 each, signaling insider confidence in the company.
• The company beat quarterly expectations, posting EPS of $1.53 versus the $1.24 consensus and revenue of $941.6 million versus estimates of $871.6 million, though revenue was still down 33.8% year over year.
• Matador recently announced a quarterly dividend of $0.375 per share, which annualizes to $1.50 per share and implies a 2.7% yield. Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $65.08.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran bought 482 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $52.70 per share, with a total value of $25,401.40. Following the completion of the purchase, the chief executive officer owned 7,479 shares in the company, valued at approximately $394,143.30. This trade represents a 6.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 27th, Joseph Wm Foran purchased 4,675 shares of Matador Resources stock. The shares were purchased at an average price of $52.36 per share, for a total transaction of $244,783.00.

Matador Resources Stock Up 4.6%

MTDR opened at $56.06 on Tuesday. The company has a fifty day moving average of $59.36 and a two-hundred day moving average of $50.59. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.41 and a beta of 0.75. Matador Resources Company has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the company posted $1.99 EPS. The company's revenue for the quarter was down 33.8% on a year-over-year basis. On average, research analysts expect that Matador Resources Company will post 7.36 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources's dividend payout ratio is currently 38.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd lifted its holdings in Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock valued at $47,000 after purchasing an additional 201 shares in the last quarter. Burford Brothers Inc. lifted its stake in shares of Matador Resources by 0.8% in the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company's stock worth $1,693,000 after buying an additional 225 shares in the last quarter. Fiduciary Trust Co boosted its position in Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company's stock worth $531,000 after acquiring an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company's stock valued at $388,000 after acquiring an additional 254 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in Matador Resources by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company's stock valued at $349,000 after acquiring an additional 278 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial upgraded Matador Resources from a "hold" rating to a "buy" rating and boosted their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, May 12th. Weiss Ratings lowered Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. UBS Group lifted their price target on shares of Matador Resources from $50.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Roth Mkm reissued a "neutral" rating and issued a $65.00 price target (up from $52.00) on shares of Matador Resources in a report on Wednesday, April 8th. Finally, KeyCorp upped their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and a consensus price target 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.

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