Joseph Wm Foran Purchases 555 Shares of Matador Resources (NYSE:MTDR) Stock

Key Points

• CEO Joseph Wm. Foran bought 555 Matador Resources shares at an average price of $54.49, investing $30,241.95 and increasing his direct ownership by 13.16% to 4,772 shares.
• Matador reported stronger-than-expected quarterly results, with EPS of $2.61 versus the $2.08 consensus and revenue of $1.17 billion, up 32.5% year over year.
• The stock was trading at $56.74, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $66.07; the company also declared a quarterly dividend of $0.375 per share.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran purchased 555 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of $54.49 per share, for a total transaction of $30,241.95. Following the transaction, the chief executive officer directly owned 4,772 shares in the company, valued at approximately $260,026.28. The trade was a 13.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, August 17th, Joseph Wm Foran acquired 400 shares of Matador Resources stock. The stock was purchased at an average cost of $53.64 per share, with a total value of $21,456.00.
• On Thursday, August 13th, Joseph Wm Foran acquired 5,000 shares of Matador Resources stock. The stock was purchased at an average price of $51.44 per share, for a total transaction of $257,200.00.
• On Wednesday, August 12th, Joseph Wm Foran acquired 10,000 shares of Matador Resources stock. The shares were acquired at an average cost of $52.16 per share, for a total transaction of $521,600.00.
• On Tuesday, August 11th, Joseph Wm Foran bought 709 shares of Matador Resources stock. The shares were acquired at an average price of $51.68 per share, with a total value of $36,641.12.
• On Monday, August 10th, Joseph Wm Foran bought 3,130 shares of Matador Resources stock. The stock was acquired at an average price of $51.04 per share, with a total value of $159,755.20.
• On Tuesday, June 9th, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The stock was acquired at an average cost of $53.07 per share, for a total transaction of $106,140.00.
• On Thursday, June 4th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The stock was acquired at an average cost of $56.25 per share, with a total value of $112,500.00.

Matador Resources Stock Up 2.7%

Matador Resources stock opened at $56.74 on Friday. The firm has a 50 day simple moving average of $51.91 and a 200 day simple moving average of $54.79. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 9.73 and a beta of 0.76.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. The firm had revenue of $1.17 billion for 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%.The business's quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.53 earnings per share. On average, analysts predict that Matador Resources Company will post 7.26 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th will be given a dividend of $0.375 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup cut their price objective on shares of Matador Resources from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Zacks Research downgraded shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Mizuho upgraded shares of Matador Resources to a "strong-buy" rating in a research report on Friday, July 31st. UBS Group upped their price target on shares of Matador Resources from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, KeyCorp lowered their price objective on Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.07.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently added to or reduced their stakes in the company. Kestra Investment Management LLC raised its holdings in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after buying an additional 358 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Matador Resources in the first quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in Matador Resources during the third quarter valued at approximately $35,000. Center for Financial Planning Inc. purchased a new position in shares of Matador Resources during the first quarter worth approximately $41,000. Finally, Gilpin Wealth Management LLC purchased a new position in shares of Matador Resources during the fourth quarter worth approximately $42,000. Institutional investors own 91.98% of the company's stock.

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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