Matador Resources (NYSE:MTDR) Director Paul Harvey Acquires 500 Shares of Stock

Key Points

• Director Paul Harvey bought 500 Matador Resources shares at an average price of $52.72, spending $26,360. His direct holdings rose 1.53% to 33,121 shares.
• Matador reported quarterly EPS of $2.08, beating the $1.85 consensus, while revenue climbed 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) Director Paul Harvey acquired 500 shares of the stock in a transaction dated Thursday, November 5th. The stock was acquired at an average price of $52.72 per share, for a total transaction of $26,360.00. Following the completion of the acquisition, the director directly owned 33,121 shares of the company's stock, valued at $1,746,139.12. The trade was a 1.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Matador Resources Stock Performance

Shares of MTDR stock opened at $50.38 on Monday. Matador Resources Company has a 12 month low of $37.74 and a 12 month high of $66.84. The company's fifty day simple moving average is $56.21 and its 200-day simple moving average is $54.51. The firm has a market cap of $6.23 billion, a PE ratio of 8.69 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.23. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The firm's revenue for the quarter was up 33.9% compared to the same quarter last year. Equities research analysts expect that Matador Resources Company will post 8.34 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. This is a boost from Matador Resources's previous quarterly dividend of $0.3750. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.75 annualized dividend and a yield of 3.5%. Matador Resources's payout ratio is presently 25.86%.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently bought and sold shares of the company. Diversified Trust Co increased its position in Matador Resources by 1.8% during the third quarter. Diversified Trust Co now owns 24,436 shares of the energy company's stock worth $1,260,000 after buying an additional 434 shares during the last quarter. Allworth Financial LP lifted its position in shares of Matador Resources by 27.6% in the third quarter. Allworth Financial LP now owns 1,621 shares of the energy company's stock valued at $81,000 after buying an additional 351 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Matador Resources by 60.9% in the third quarter. Russell Investments Group Ltd. now owns 185,598 shares of the energy company's stock valued at $9,573,000 after buying an additional 70,256 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Matador Resources by 33.3% in the third quarter. Fifth Third Bancorp now owns 150,931 shares of the energy company's stock valued at $7,785,000 after buying an additional 37,676 shares during the last quarter. Finally, Alpha Wealth Funds LLC bought a new position in shares of Matador Resources during the 3rd quarter worth approximately $304,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTDR has been the subject of several analyst reports. Stephens raised their price objective on Matador Resources from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Truist Financial upped their target price on Matador Resources from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings cut Matador Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Scotiabank began coverage on Matador Resources in a research note on Thursday, October 15th. They issued a "sector perform" rating and a $59.00 price target for the company. Finally, Wall Street Zen upgraded Matador Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and an average target price of $68.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.