Insider Buying: Matador Resources (NYSE:MTDR) CFO Purchases 2,500 Shares of Stock

Key Points

• Matador Resources CFO Christopher Calvert bought 2,500 shares at an average price of $56.64, investing $141,600 and increasing his holdings by 6.02% to 44,000 shares.
• Matador’s latest quarterly results beat expectations, with adjusted earnings of $2.61 per share versus the $2.08 consensus and revenue of $1.17 billion, up 32.5% year over year.
• The company declared a quarterly dividend of $0.375 per share, equivalent to $1.50 annually and a 2.7% yield; analysts collectively rate the stock “Moderate Buy” with an average target of $66.07.

Matador Resources Company (NYSE:MTDR - Get Free Report) CFO Christopher Calvert acquired 2,500 shares of Matador Resources stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $56.64 per share, with a total value of $141,600.00. Following the purchase, the chief financial officer owned 44,000 shares of the company's stock, valued at $2,492,160. This represents a 6.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Matador Resources Trading Up 0.1%

Shares of MTDR opened at $56.42 on Monday. The firm's 50 day simple moving average is $52.05 and its 200 day simple moving average is $54.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The company has a market capitalization of $6.98 billion, a P/E ratio of 9.68 and a beta of 0.76. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.Matador Resources's quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. Sell-side analysts forecast that Matador Resources Company will post 7.26 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, August 10th. Matador Resources's dividend payout ratio is currently 25.73%.

Institutional Trading of Matador Resources

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Matador Resources during the second quarter valued at $573,936,000. California State Teachers Retirement System lifted its holdings in Matador Resources by 5,019.7% during the 2nd quarter. California State Teachers Retirement System now owns 6,833,201 shares of the energy company's stock valued at $340,157,000 after buying an additional 6,699,733 shares in the last quarter. Wellington Management Group LLP increased its position in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Matador Resources during the fourth quarter valued at about $53,249,000. Finally, Bank of New York Mellon Corp acquired a new position in Matador Resources during the 2nd quarter valued at about $56,161,000. Institutional investors own 91.98% of the company's stock.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several research analyst reports. Wall Street Zen upgraded Matador Resources from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings upgraded Matador Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Morgan Stanley dropped 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. KeyCorp cut their price objective on shares of Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Finally, Truist Financial decreased their price objective on shares of Matador Resources from $63.00 to $59.00 and set a "buy" rating for the company in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $66.07.

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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