Joseph Wm Foran Acquires 709 Shares of Matador Resources (NYSE:MTDR) Stock

Key Points

• CEO Joseph Wm Foran bought 709 Matador Resources shares at an average price of $51.68, increasing his position by 4.76% to 15,617 shares. The purchase follows several additional insider buys in recent months.
• Matador reported quarterly EPS of $2.61, beating estimates of $2.08, while revenue rose 32.5% year over year to $1.17 billion. The stock opened at $52.55, with a market value of approximately $6.5 billion.
• The company declared a quarterly dividend of $0.375, equivalent to $1.50 annually and a 2.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $65.29.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran acquired 709 shares of the stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $51.68 per share, with a total value of $36,641.12. Following the completion of the purchase, the chief executive officer owned 15,617 shares of the company's stock, valued at approximately $807,086.56. The trade was a 4.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 10th, Joseph Wm Foran acquired 3,130 shares of Matador Resources stock. The stock was acquired at an average price of $51.04 per share, with a total value of $159,755.20.
• On Tuesday, June 9th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The shares were acquired at an average price of $53.07 per share, with a total value of $106,140.00.
• On Thursday, June 4th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was bought at an average cost of $56.25 per share, with a total value of $112,500.00.
• On Friday, May 29th, Joseph Wm Foran acquired 482 shares of Matador Resources stock. The shares were purchased at an average cost of $52.70 per share, for a total transaction of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran purchased 4,675 shares of Matador Resources stock. The shares were purchased at an average price of $52.36 per share, for a total transaction of $244,783.00.

Matador Resources Stock Up 0.6%

NYSE:MTDR opened at $52.55 on Wednesday. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. 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's 50-day moving average price is $51.29 and its 200-day moving average price is $53.83. The company has a market capitalization of $6.50 billion, a PE ratio of 9.01 and a beta of 0.76.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the firm posted $1.53 EPS. The business's revenue for the quarter was up 32.5% compared to the same quarter last year. On average, equities analysts predict that Matador Resources Company will post 7.11 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.50 annualized dividend and a yield of 2.9%. Matador Resources's dividend payout ratio is 25.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd increased its position 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. Burford Brothers Inc. grew its stake in shares of Matador Resources by 0.8% in the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company's stock valued at $1,693,000 after purchasing an additional 225 shares during the last quarter. Fiduciary Trust Co grew its stake in shares of Matador Resources by 2.2% in the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company's stock valued at $531,000 after purchasing an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company's stock valued at $388,000 after purchasing an additional 254 shares during the period. Finally, Verdence Capital Advisors LLC raised its stake in shares of Matador Resources by 3.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company's stock worth $349,000 after purchasing an additional 278 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MTDR shares. Weiss Ratings restated a "hold (c)" rating on shares of Matador Resources in a research report on Friday. UBS Group boosted their price objective on Matador Resources from $54.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday. Wells Fargo & Company increased their price target on Matador Resources from $54.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. 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, Zacks Research cut Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.29.

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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