Insider Buying: Matador Resources (NYSE:MTDR) CEO Acquires $256,800.00 in Stock

Key Points

• CEO Joseph Foran bought 5,000 Matador Resources shares at an average $51.36 each, investing $256,800 and increasing his ownership by 104.78% to 9,772 shares.
• Matador reported quarterly EPS of $2.08, beating estimates of $1.85, while revenue rose 33.9% year over year to $1.39 billion.
• The company raised its quarterly dividend from $0.375 to $0.4375 per share, equivalent to $1.75 annually and a 3.5% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $68.50.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Foran bought 5,000 shares of the stock in a transaction on Thursday, November 5th. The shares were acquired at an average cost of $51.36 per share, for a total transaction of $256,800.00. Following the purchase, the chief executive officer owned 9,772 shares in the company, valued at $501,889.92. The trade was a 104.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, August 26th, Joseph Foran bought 555 shares of Matador Resources stock. The shares were acquired at an average cost of $54.49 per share, with a total value of $30,241.95.
• On Monday, August 17th, Joseph Foran bought 400 shares of Matador Resources stock. The stock was acquired at an average price of $53.64 per share, with a total value of $21,456.00.
• On Thursday, August 13th, Joseph Foran purchased 5,000 shares of Matador Resources stock. The stock was acquired at an average cost of $51.44 per share, for a total transaction of $257,200.00.
• On Wednesday, August 12th, Joseph Foran purchased 10,000 shares of Matador Resources stock. The shares were acquired at an average price of $52.16 per share, for a total transaction of $521,600.00.
• On Tuesday, August 11th, Joseph Foran acquired 709 shares of Matador Resources stock. The shares were acquired at an average cost of $51.68 per share, with a total value of $36,641.12.

Matador Resources Stock Down 0.1%

MTDR stock opened at $50.38 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $56.21 and a two-hundred day moving average of $54.51. Matador Resources Company has a 12 month low of $37.74 and a 12 month high of $66.84. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 8.69 and a beta of 0.93.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.23. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $1.36 earnings per share. The business's revenue was up 33.9% compared to the same quarter last year. As a group, analysts forecast that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%. This is an increase from Matador Resources's previous quarterly dividend of $0.3750. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources's dividend payout ratio is presently 25.86%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTDR. Wall Street Zen raised Matador Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Scotiabank assumed coverage on shares of Matador Resources in a research report on Thursday, October 15th. They set a "sector perform" rating and a $59.00 price target on the stock. UBS Group upped their price objective on shares of Matador Resources from $56.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, September 14th. Morgan Stanley raised their price objective on shares of Matador Resources from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Finally, KeyCorp raised their price objective on shares of Matador Resources from $68.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 15th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTDR. BlackRock Inc. purchased a new position in Matador Resources in the 2nd quarter valued at approximately $573,936,000. Dimensional Fund Advisors LP increased its position in shares of Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company's stock worth $439,010,000 after acquiring an additional 277,839 shares during the period. First Trust Advisors LP increased its position in shares of Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company's stock worth $100,798,000 after acquiring an additional 810,808 shares during the period. Bank of New York Mellon Corp increased its position in shares of Matador Resources by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company's stock worth $74,934,000 after acquiring an additional 26,205 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Matador Resources in the second quarter valued at $42,184,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas.

Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company's operations and serving other producers in the region.

Matador was founded in 2003 and is headquartered in Dallas, Texas.

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