Insider Buying: Matador Resources Company (NYSE:MTDR) CEO Purchases 5,000 Shares of 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 purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was bought 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. The trade was a 311.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 acquired at an average cost of $39.63 per share, with a total value of $99,075.00.

Matador Resources Stock Performance

NYSE:MTDR traded down $0.61 during midday trading on Thursday, reaching $46.07. 1,789,768 shares of the company traded hands, compared to its average volume of 1,972,047. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The company has a fifty day moving average price of $49.33 and a 200 day moving average price of $48.71. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 6.74 and a beta of 1.49. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04.

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

Matador Resources Dividend Announcement

The firm also recently declared 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 payout ratio is currently 18.30%.

Matador Resources declared that its board has authorized a stock repurchase plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MTDR shares. Raymond James Financial lifted their price objective on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Stephens dropped their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Hodges Capital Management Inc. boosted its holdings in shares of Matador Resources by 15.1% in the 2nd quarter. Hodges Capital Management Inc. now owns 560,084 shares of the energy company's stock valued at $26,727,000 after buying an additional 73,609 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Matador Resources in the second quarter valued at about $465,000. First Dallas Securities Inc. boosted its stake in shares of Matador Resources by 7.2% in the second quarter. First Dallas Securities Inc. now owns 11,945 shares of the energy company's stock valued at $570,000 after buying an additional 807 shares during the period. Allworth Financial LP raised its position in Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company's stock valued at $27,000 after purchasing an additional 364 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Matador Resources by 4.5% in the 2nd quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company's stock worth $246,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

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.