Insider Buying: Matador Resources (NYSE:MTDR) CEO Acquires 2,500 Shares of Stock

Matador Resources (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran acquired 2,500 shares of the firm's stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $39.93 per share, for a total transaction of $99,825.00. Following the acquisition, the chief executive officer now owns 58,256 shares in the company, valued at approximately $2,326,162.08. The trade was a 4.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 7th, Joseph Wm Foran acquired 2,500 shares of Matador Resources stock. The stock was purchased at an average price of $39.63 per share, for a total transaction of $99,075.00.
• On Tuesday, April 29th, Joseph Wm Foran purchased 5,000 shares of Matador Resources stock. The shares were purchased at an average cost of $40.86 per share, for a total transaction of $204,300.00.
• On Monday, March 3rd, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The stock was purchased at an average price of $48.55 per share, with a total value of $97,100.00.
• On Friday, February 21st, Joseph Wm Foran bought 6,000 shares of Matador Resources stock. The stock was acquired at an average cost of $53.94 per share, for a total transaction of $323,640.00.

Matador Resources Stock Performance

Matador Resources stock traded up $0.14 during trading hours on Friday, hitting $42.50. The company had a trading volume of 281,115 shares, compared to its average volume of 1,605,709. Matador Resources has a one year low of $35.19 and a one year high of $66.89. The firm has a market cap of $5.32 billion, a PE ratio of 5.95 and a beta of 1.47. The firm has a 50-day moving average of $44.36 and a 200 day moving average of $52.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same period in the previous year, the company posted $1.71 EPS. The firm's quarterly revenue was up 28.7% on a year-over-year basis. On average, sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources announced that its board has initiated a share buyback plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is 16.78%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group initiated coverage on Matador Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 target price for the company. Raymond James dropped their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. KeyCorp lowered their target price on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company reduced their target price on shares of Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources has an average rating of "Moderate Buy" and a consensus price target of $70.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new position in Matador Resources during the 4th quarter worth $25,000. MCF Advisors LLC bought a new position in shares of Matador Resources in the first quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. TCTC Holdings LLC lifted its position in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after purchasing an additional 175 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Company Profile

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.