Insider Buying: Matador Resources (NYSE:MTDR) CEO Buys 400 Shares

Key Points

• Matador Resources CEO Joseph Wm. Foran bought 400 shares at an average price of $53.64, increasing his holdings by 1.31% to 31,017 shares. The purchase follows several additional insider buys totaling thousands of shares in recent months.
• Matador reported quarterly EPS of $2.61, exceeding estimates of $2.08, while revenue rose 32.5% year over year to $1.17 billion. Shares recently traded at $57.98, with a 12-month range of $37.14 to $66.84.
• The company declared a quarterly dividend of $0.375, or $1.50 annually, representing a 2.6% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $66.07.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran acquired 400 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $53.64 per share, with a total value of $21,456.00. Following the completion of the transaction, the chief executive officer owned 31,017 shares in the company, valued at $1,663,751.88. The trade was a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, August 13th, Joseph Wm Foran bought 5,000 shares of Matador Resources stock. The shares were acquired at an average cost of $51.44 per share, with a total value of $257,200.00.
• On Wednesday, August 12th, Joseph Wm Foran bought 10,000 shares of Matador Resources stock. The stock was bought at an average cost of $52.16 per share, with a total value of $521,600.00.
• On Tuesday, August 11th, Joseph Wm Foran purchased 709 shares of Matador Resources stock. The stock was bought at an average price 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 shares were bought at an average cost of $51.04 per share, for a total transaction of $159,755.20.
• On Tuesday, June 9th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were bought at an average price of $53.07 per share, with a total value of $106,140.00.
• On Thursday, June 4th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was bought at an average price of $56.25 per share, for a total transaction of $112,500.00.
• On Friday, May 29th, Joseph Wm Foran bought 482 shares of Matador Resources stock. The shares were bought at an average cost 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 shares were bought at an average price of $52.36 per share, with a total value of $244,783.00.

Matador Resources Price Performance

Shares of MTDR traded up $0.74 during trading hours on Wednesday, reaching $57.98. The stock had a trading volume of 1,980,060 shares, compared to its average volume of 1,907,646. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The stock has a market capitalization of $7.17 billion, a PE ratio of 9.94 and a beta of 0.76. 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 company's 50-day moving average is $51.21 and its two-hundred day moving average is $54.22.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 EPS. Research analysts expect that Matador Resources Company will post 7.19 EPS for the current year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 annualized dividend and a dividend yield of 2.6%. Matador Resources's dividend payout ratio is currently 25.73%.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several analyst reports. Wall Street Zen raised shares of Matador Resources from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup decreased their price objective on Matador Resources from $68.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. KeyCorp lowered their target price on Matador Resources from $73.00 to $68.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Mizuho raised Matador Resources to a "strong-buy" rating in a report on Friday, July 31st. Finally, Morgan Stanley reduced their price target on Matador Resources from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.07.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Matador Resources during the first quarter worth $27,000. Kestra Investment Management LLC grew its holdings in 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 acquiring an additional 358 shares during the period. Center for Financial Planning Inc. acquired a new stake in Matador Resources during the 1st quarter worth about $41,000. Altshuler Shaham Ltd raised its position in shares of Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock worth $47,000 after acquiring an additional 201 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources in the 3rd quarter worth about $35,000. 91.98% of the stock is owned by institutional investors.

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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