Joseph Wm Foran Acquires 4,675 Shares of Matador Resources (NYSE:MTDR) Stock

Key Points

• CEO Joseph Wm Foran bought 4,675 shares of Matador Resources at an average price of $52.36, spending about $244,783 and increasing his direct stake to 6,997 shares. The purchase was disclosed in an SEC filing.
• Matador Resources beat quarterly earnings expectations, reporting EPS of $1.53 versus the $1.24 estimate and revenue of $941.6 million versus $871.57 million expected. However, revenue was still down 33.8% from the same quarter last year.
• The stock has solid Wall Street support, with ten Buy ratings and six Hold ratings, giving it a consensus “Moderate Buy” rating and a target price of $65.08. The company also announced a quarterly dividend of $0.375 per share, or $1.50 annualized, for a 2.9% yield.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran bought 4,675 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of $52.36 per share, with a total value of $244,783.00. Following the completion of the transaction, the chief executive officer directly owned 6,997 shares in the company, valued at approximately $366,362.92. This trade represents a 201.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, February 27th, Joseph Wm Foran acquired 468 shares of Matador Resources stock. The stock was acquired at an average price of $49.78 per share, with a total value of $23,297.04.

Matador Resources Price Performance

Shares of MTDR opened at $52.50 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The stock has a 50 day simple moving average of $59.54 and a 200 day simple moving average of $50.28. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The firm has a market capitalization of $6.52 billion, a PE ratio of 13.50 and a beta of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the previous year, the firm earned $1.99 EPS. Matador Resources's quarterly revenue was down 33.8% compared to the same quarter last year. Sell-side analysts predict that Matador Resources Company will post 7.36 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be given a $0.375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.9%. Matador Resources's payout ratio is currently 38.56%.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Matador Resources during the 1st quarter worth approximately $27,000. Kestra Investment Management LLC raised its stake in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after purchasing an additional 358 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in shares of Matador Resources during the 1st quarter worth approximately $41,000. Rothschild Investment LLC raised its stake in Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company's stock valued at $30,000 after acquiring an additional 652 shares during the period. Finally, Altshuler Shaham Ltd raised its stake in Matador Resources by 36.7% in the 1st 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. Institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of several research analyst reports. Weiss Ratings lowered Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Citigroup decreased their price objective on Matador Resources from $77.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday. Mizuho boosted their target price on Matador Resources from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday. TD Cowen boosted their target price on Matador Resources from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Finally, Morgan Stanley boosted their target price on Matador Resources from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, May 22nd. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $65.08.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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