Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Acquires 2,500 Shares of Stock

Key Points

• CEO Joseph Wm Foran bought 2,500 Matador Resources shares at an average $49.29 each, spending $123,225. The purchase increased his direct holdings by 25.58% to 12,272 shares.
• Matador reported quarterly earnings of $2.08 per share, beating the $1.85 analyst consensus, 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 3.3% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $68.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Foran purchased 2,500 shares of Matador Resources stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average cost of $49.29 per share, with a total value of $123,225.00. Following the completion of the acquisition, the chief executive officer directly owned 12,272 shares in the company, valued at approximately $604,886.88. This trade represents a 25.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, November 5th, Joseph Foran acquired 5,000 shares of Matador Resources stock. The shares were acquired at an average cost of $51.36 per share, for a total transaction of $256,800.00.
• On Wednesday, August 26th, Joseph Foran acquired 555 shares of Matador Resources stock. The shares were acquired at an average cost of $54.49 per share, for a total transaction of $30,241.95.
• On Monday, August 17th, Joseph Foran acquired 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.

Matador Resources Price Performance

Matador Resources stock traded up $0.71 during midday trading on Thursday, reaching $52.79. The company's stock had a trading volume of 1,229,329 shares, compared to its average volume of 1,844,013. Matador Resources Company has a fifty-two week low of $39.55 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.55. The stock's 50 day simple moving average is $55.78 and its 200 day simple moving average is $54.62. The firm has a market capitalization of $6.53 billion, a PE ratio of 9.10 and a beta of 0.93.

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

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be issued a $0.4375 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Matador Resources's previous quarterly dividend of $0.3750. Matador Resources's payout ratio is currently 30.17%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings downgraded Matador Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, November 4th. Morgan Stanley raised their target price on shares of Matador Resources from $66.00 to $69.00 and gave the company an "equal weight" rating in a report on Thursday, October 15th. Mizuho cut their target price on shares of Matador Resources from $77.00 to $71.00 and set an "outperform" rating for the company in a research report on Monday, October 19th. Wells Fargo & Company reduced their price target on shares of Matador Resources from $72.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, UBS Group lowered their price target on shares of Matador Resources from $64.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in MTDR. Root Financial Partners LLC acquired a new position in Matador Resources in the 3rd quarter valued at about $25,000. Center for Financial Planning Inc. purchased a new stake in shares of Matador Resources during the first quarter worth about $41,000. Harbor Investment Advisory LLC purchased a new stake in shares of Matador Resources during the second quarter worth about $44,000. Altshuler Shaham Ltd raised its position in shares of Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock valued at $47,000 after buying an additional 201 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Matador Resources in the second quarter valued at approximately $54,000. 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.

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