Matador Resources (NYSE:MTDR) Stock: Insider William Thomas Elsener Purchases 900 Shares

Key Points

• EVP William Elsener bought 900 Matador Resources shares at an average $51.48, spending $46,332; the purchase increased his holdings to 115,779 shares.
• Matador beat Q3 estimates, reporting EPS of $2.08 versus $1.85 expected and revenue of $1.39 billion, up 33.9% year over year. It also raised its quarterly dividend from $0.375 to $0.4375 per share.
• Analyst views are generally positive, with a “Moderate Buy” consensus and a $68.50 average price target, though some analysts rate the stock Hold and a Q3 review flagged margin compression.

Matador Resources Company (NYSE:MTDR - Get Free Report) EVP William Elsener acquired 900 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average price of $51.48 per share, with a total value of $46,332.00. Following the completion of the purchase, the executive vice president owned 115,779 shares in the company, valued at $5,960,302.92. This trade represents a 0.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

William Thomas Elsener also recently made the following trade(s):

• On Monday, August 10th, William Elsener bought 850 shares of Matador Resources stock. The shares were purchased at an average price of $50.94 per share, for a total transaction of $43,299.00.

Matador Resources Stock Performance

MTDR opened at $49.87 on Friday. The company has a 50 day simple moving average of $56.33 and a two-hundred day simple moving average of $54.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.55 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 1-year low of $37.74 and a 1-year high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating 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 firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm earned $1.36 EPS. The company's revenue was up 33.9% on a year-over-year basis. Equities analysts forecast that Matador Resources Company will post 8.11 earnings per share 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 issued a dividend of $0.4375 per share. This is a boost from Matador Resources's previous quarterly dividend of $0.3750. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources's payout ratio is 25.73%.

Key Headlines Impacting Matador Resources

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

• Positive Sentiment: CFO Christopher Calvert bought 2,000 shares for about $105,140, while CAO Benjamin Colodney purchased 500 shares for $25,760. The purchases increased their holdings by 4.55% and 3.82%, respectively, and may signal confidence from company insiders. Read More. · Read More.
• Positive Sentiment: Matador beat Q3 expectations, reporting EPS of $2.08 versus $1.85 expected and revenue of $1.39 billion versus $1.12 billion; revenue grew 33.9% year over year. The company also raised its quarterly dividend about 17%, to $0.4375 per share. Read More.
• Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Read More.
• Neutral Sentiment: Scotiabank reaffirmed its Hold rating, underscoring that analysts do not have a unanimous bullish view. Read More.
• Negative Sentiment: A Q3 review cited margin compression despite production growth, a potential concern that could offset some of the positive impact from the earnings beat. Read More.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank initiated coverage on Matador Resources in a research report on Thursday, October 15th. They set a "sector perform" rating and a $59.00 target price for the company. Wells Fargo & Company lowered their price target on Matador Resources from $77.00 to $76.00 and set an "overweight" rating on the stock in a report on Wednesday, October 14th. Morgan Stanley upped their price target on Matador Resources from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 15th. Stephens increased their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Finally, Stifel Nicolaus began coverage on shares of Matador Resources in a research report on Thursday, September 10th. They set a "buy" rating and a $66.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and a consensus price target of $68.50.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings 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 purchasing an additional 37,676 shares during the period. Alpha Wealth Funds LLC purchased a new position in Matador Resources during the 3rd quarter worth $304,000. Maryland State Retirement & Pension System increased its holdings in Matador Resources by 17.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 6,798 shares of the energy company's stock worth $351,000 after purchasing an additional 1,025 shares during the period. Keybank National Association OH raised its position in Matador Resources by 9.6% during the 3rd quarter. Keybank National Association OH now owns 8,596 shares of the energy company's stock valued at $443,000 after purchasing an additional 755 shares in the last quarter. Finally, AlphaCore Capital LLC bought a new stake in Matador Resources during the 3rd quarter valued at $449,000. 91.98% of the stock is owned by institutional investors.

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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