Joseph Wm Foran Buys 5,000 Shares of Matador Resources (NYSE:MTDR) Stock

Key Points

• CEO Joseph Wm. Foran bought 5,000 Matador Resources shares at an average price of $51.44, investing $257,200 and increasing his stake by 19.52% to 30,617 shares. The purchase follows several other insider buys in recent months.
• Matador reported strong quarterly results, with EPS of $2.61 beating estimates of $2.08 and revenue rising 32.5% year over year to $1.17 billion. The company also declared a quarterly dividend of $0.375, representing a 2.9% annualized yield.
• Analysts maintain a “Moderate Buy” consensus, with an average price target near $66, although recent targets have been mixed. Institutional investors own approximately 91.98% of the company’s shares.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran acquired 5,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $51.44 per share, for a total transaction of $257,200.00. Following the completion of the purchase, the chief executive officer owned 30,617 shares in the company, valued at approximately $1,574,938.48. This trade represents a 19.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, August 12th, Joseph Wm Foran bought 10,000 shares of Matador Resources stock. The stock was bought at an average cost of $52.16 per share, with a total value of $521,600.00.
• On Tuesday, August 11th, Joseph Wm Foran purchased 709 shares of Matador Resources stock. The stock was bought at an average cost of $51.68 per share, for a total transaction of $36,641.12.
• On Monday, August 10th, Joseph Wm Foran purchased 3,130 shares of Matador Resources stock. The stock was bought at an average price of $51.04 per share, for a total transaction of $159,755.20.
• On Tuesday, June 9th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were bought at an average price of $53.07 per share, with a total value of $106,140.00.
• On Thursday, June 4th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were 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 bought 482 shares of Matador Resources stock. The stock was purchased at an average price of $52.70 per share, for a total transaction of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran bought 4,675 shares of Matador Resources stock. The shares were purchased at an average price of $52.36 per share, with a total value of $244,783.00.

Matador Resources Price Performance

NYSE:MTDR opened at $51.59 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The firm has a market cap of $6.38 billion, a PE ratio of 8.85 and a beta of 0.76. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The company's 50-day moving average price is $51.13 and its two-hundred day moving average price is $53.96.

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

Matador Resources Announces Dividend

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

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 stock. V Square Quantitative Management LLC bought a new stake in shares of Matador Resources in the 1st quarter valued at about $27,000. Kestra Investment Management LLC grew its stake in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after acquiring an additional 358 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of Matador Resources in the first quarter worth about $41,000. Altshuler Shaham Ltd raised its position 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 worth $47,000 after purchasing an additional 201 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources during the 3rd quarter valued at about $35,000. Institutional investors own 91.98% of the company's stock.

Matador Resources News Summary

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

• Positive Sentiment: Analysts maintain an overall “Moderate Buy” rating on MTDR. Wells Fargo raised its price target from $63 to $79 while keeping an “equal weight” rating, implying substantial potential upside from the referenced $51.59 level. Wells Fargo price target update
• Positive Sentiment: Siebert Williams Shank & Co. reiterated a “Buy” rating, reinforcing the bullish analyst view. The broader consensus target is approximately $65.29. Siebert Williams Shank rating
• Positive Sentiment: Matador’s Delaware Basin expansion remains a key growth driver. Its Permian acreage and associated infrastructure could support production growth and improve the value of future development. Delaware Basin expansion analysis
• Positive Sentiment: Management buying provides an additional confidence signal: CEO Joseph Wm. Foran purchased 3,130 shares for about $159,755 and another 709 shares for about $36,641, while EVP William Elsener bought 850 shares for roughly $43,299. Matador Resources insider buying
• Positive Sentiment: The company recently reported a strong second quarter, beating earnings and revenue estimates, with revenue up 32.5% year over year. Its quarterly dividend equates to $1.50 annually, or roughly a 2.9% yield based on the referenced price.
• Neutral Sentiment: KeyCorp lowered its target from $73 to $68 but retained an “overweight” rating, highlighting disagreement over valuation and the outlook for oil and gas prices. KeyCorp price target update

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTDR. Weiss Ratings reissued a "hold (c)" rating on shares of Matador Resources in a research note on Friday, August 7th. Zacks Research lowered Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Citigroup dropped their price objective on Matador Resources from $68.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday. Roth Capital raised shares of Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research note on Monday, June 22nd. Finally, KeyCorp cut their price objective on shares of Matador Resources from $73.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average target price of $66.07.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source