Matador Resources (NYSE:MTDR) Director Shelley Appel Acquires 1,075 Shares of Stock

Key Points

• Director Shelley Appel purchased 1,075 Matador Resources shares at an average of $49.96 apiece, a $53,707 transaction that increased her direct holdings by 37.39% to 3,950 shares.
• Matador reported quarterly EPS of $2.08, beating the $1.85 consensus, while revenue of $1.39 billion exceeded estimates and rose 33.9% year over year. The company also raised its quarterly dividend from $0.375 to $0.4375 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $68.50; shares traded around $49.98 in the session described.

Matador Resources Company (NYSE:MTDR - Get Free Report) Director Shelley Appel bought 1,075 shares of the company's stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average price of $49.96 per share, with a total value of $53,707.00. Following the transaction, the director directly owned 3,950 shares in the company, valued at $197,342. This represents a 37.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Matador Resources Price Performance

MTDR stock traded down $0.43 during trading on Monday, hitting $49.98. 1,577,149 shares of the stock traded hands, compared to its average volume of 1,849,622. Matador Resources Company has a one year low of $38.80 and a one year high of $66.84. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 8.62 and a beta of 0.93. The company has a 50 day simple moving average of $56.21 and a 200 day simple moving average of $54.51. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67.

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

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 10th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, November 10th. This is an increase from Matador Resources's previous quarterly dividend of $0.3750. Matador Resources's dividend payout ratio (DPR) is presently 30.17%.

Wall Street Analyst Weigh In

MTDR has been the subject of several research analyst reports. Weiss Ratings downgraded Matador Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, November 4th. Stifel Nicolaus assumed coverage on Matador Resources in a research note on Thursday, September 10th. They issued a "buy" rating and a $66.00 price objective on the stock. Truist Financial increased their target price on Matador Resources from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday. Scotiabank started coverage on Matador Resources in a research note on Thursday, October 15th. They issued a "sector perform" rating and a $59.00 target price for the company. Finally, KeyCorp lifted their price target on Matador Resources from $68.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, September 15th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.50.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MTDR. Root Financial Partners LLC bought a new position in Matador Resources in the 3rd quarter valued at $25,000. Center for Financial Planning Inc. bought a new stake in shares of Matador Resources during the first quarter worth $41,000. Harbor Investment Advisory LLC acquired a new position in shares of Matador Resources during the second quarter valued at $44,000. Altshuler Shaham Ltd lifted its stake in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock valued at $47,000 after acquiring an additional 201 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Matador Resources in the second quarter valued at about $54,000. Institutional investors and hedge funds own 91.98% of the company's stock.

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.

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