Matador Resources (NYSE:MTDR) CFO Christopher Calvert Purchases 2,000 Shares of Stock

Key Points

• Matador Resources CFO Christopher Calvert bought 2,000 shares for $105,140 at an average price of $52.57, increasing his holdings by 4.55% to 46,000 shares.
• The company beat quarterly forecasts, reporting EPS of $2.08 versus $1.85 expected and revenue of $1.39 billion versus $1.12 billion expected; revenue rose 33.9% year over year.
• Matador raised its quarterly dividend from $0.375 to $0.4375 per share, an annualized yield of about 3.5%. Analysts’ consensus rating was “Moderate Buy,” with a $68.50 average price target.

Matador Resources Company (NYSE:MTDR - Get Free Report) CFO Christopher Calvert purchased 2,000 shares of Matador Resources stock in a transaction dated Thursday, November 5th. The stock was bought at an average price of $52.57 per share, with a total value of $105,140.00. Following the completion of the transaction, the chief financial officer owned 46,000 shares of the company's stock, valued at $2,418,220. This represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Matador Resources Price Performance

Shares of MTDR traded down $0.50 during midday trading on Thursday, hitting $49.87. 1,784,579 shares of the company traded hands, compared to its average volume of 1,848,261. The stock has a 50-day moving average of $56.44 and a 200-day moving average of $54.44. 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 firm has a market cap of $6.17 billion, a P/E ratio of 8.60 and a beta of 0.93. Matador Resources Company has a one year low of $37.74 and a one year high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share (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 14.53%. The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company posted $1.36 EPS. The business's revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, sell-side analysts predict that Matador Resources Company will post 8.09 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.4375 per share. The ex-dividend date is Tuesday, November 10th. This is a positive change from Matador Resources's previous quarterly dividend of $0.3750. This represents a $1.75 annualized dividend and a yield of 3.5%. Matador Resources's dividend payout ratio (DPR) is currently 25.73%.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC bought a new position in shares of Matador Resources during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in Matador Resources in the first quarter valued at $27,000. Center for Financial Planning Inc. bought a new stake in Matador Resources in the first quarter valued at $41,000. Harbor Investment Advisory LLC bought a new stake in Matador Resources in the second quarter valued at $44,000. Finally, Altshuler Shaham Ltd increased its position in Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock valued at $47,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Analysts Set New Price Targets

MTDR has been the topic of a number of analyst reports. Truist Financial lifted their price target on Matador Resources from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday. Stifel Nicolaus began coverage on Matador Resources in a research note on Thursday, September 10th. They set a "buy" rating and a $66.00 price objective for the company. Seaport Research Partners started coverage on shares of Matador Resources in a report on Thursday, September 3rd. They issued a "neutral" rating on the stock. Wall Street Zen downgraded shares of Matador Resources from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 17th. Finally, Stephens lifted their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.50.

Matador Resources News Roundup

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Q3 results beat expectations. Matador reported earnings of $2.08 per share, above the $1.85 consensus estimate, while revenue of $1.39 billion also topped forecasts. Earnings were up from $1.36 per share a year earlier. Read More.
• Positive Sentiment: Analysts reiterated or raised Buy ratings. Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Read More. Read More.
• Positive Sentiment: Dividend growth and gas contracts add support. Coverage highlighted a 17% dividend increase, while Matador also secured new long-term gas agreements in the Delaware Basin. Read More. Read More.
• Neutral Sentiment: Insider and institutional buying have been noted, but one report says the shares have remained range-bound despite those purchases and the company’s operating progress. Read More.
• Negative Sentiment: Margin compression may be weighing on sentiment. A Q3 review said the market response reflected pressure on margins despite production growth, tempering the impact of the earnings beat and dividend news. Read More.

Matador Resources Company Profile

Matador Resources Company NYSE: MTDR is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador's principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company's operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.

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