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

Key Points

• Joseph Wm Foran, CEO of Matador Resources, purchased 5,000 shares of the company's stock at an average price of $49.17 per share, significantly increasing his ownership by 311.33%.
• Matador Resources reported earnings of $1.53 EPS for the last quarter, surpassing analyst expectations, with revenue growth of 8.2% year-over-year.
• The company's board approved a $400 million stock repurchase plan, indicating management believes its shares are undervalued.

Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at $324,817.02. This represents a 311.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, May 7th, Joseph Wm Foran acquired 2,500 shares of Matador Resources stock. The stock was purchased at an average price of $39.63 per share, with a total value of $99,075.00.

Matador Resources Stock Up 0.9%

Shares of NYSE:MTDR traded up $0.44 during midday trading on Friday, hitting $46.52. 1,057,146 shares of the company's stock were exchanged, compared to its average volume of 1,993,281. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $64.04. The company has a market cap of $5.79 billion, a PE ratio of 6.81 and a beta of 1.49. The stock has a 50 day moving average price of $49.40 and a 200-day moving average price of $48.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The firm had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. On average, sell-side analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.7%. Matador Resources's dividend payout ratio (DPR) is 18.30%.

Matador Resources announced that its board has authorized a stock buyback plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to buy up to 7.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in MTDR. Vanguard Group Inc. grew its holdings in shares of Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after purchasing an additional 956,090 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Matador Resources by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company's stock worth $279,192,000 after acquiring an additional 20,134 shares during the last quarter. LSV Asset Management grew its holdings in Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after acquiring an additional 772,071 shares during the last quarter. Wellington Management Group LLP grew its holdings in Matador Resources by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock worth $104,413,000 after acquiring an additional 477,236 shares during the last quarter. Finally, Beck Mack & Oliver LLC grew its holdings in Matador Resources by 6.8% in the 1st quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock worth $77,398,000 after acquiring an additional 96,562 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MTDR shares. KeyCorp increased their target price on Matador Resources from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group raised their target price on shares of Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Stephens lowered their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Royal Bank Of Canada decreased their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Mizuho cut their target price on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $68.00.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.