Matador Resources Company (NYSE:MTDR) Plans Dividend Increase - $0.38 Per Share

Key Points

• Matador Resources Company has announced a quarterly dividend increase to $0.38 per share, reflecting a 20.0% increase from the previous dividend of $0.31, with an annual yield of 3.5%.
• The company has reported a strong earnings performance, with earnings per share of $1.53 for the last quarter, exceeding estimates and showing an 8.2% revenue growth compared to the same period last year.
• Insider buying has been notable, with EVP and CEO acquiring shares at average prices of $48.46 and $49.17 respectively, indicating confidence in the company's performance and future prospects.

Matador Resources Company (NYSE:MTDR - Get Free Report) announced a quarterly dividend on Wednesday, October 15th. Shareholders of record on Monday, November 10th will be paid a dividend of 0.375 per share by the energy company on Friday, December 5th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 10th. This is a 20.0% increase from Matador Resources's previous quarterly dividend of $0.31.

Matador Resources has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Matador Resources to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 14.5%.

Matador Resources Price Performance

Shares of MTDR opened at $43.13 on Thursday. The business's 50-day moving average is $46.93 and its two-hundred day moving average is $46.30. The company has a market capitalization of $5.37 billion, a P/E ratio of 6.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share 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 company had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same period last year, the firm earned $2.05 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In related news, EVP William Thomas Elsener purchased 600 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were bought at an average price of $48.46 per share, for a total transaction of $29,076.00. Following the acquisition, the executive vice president directly owned 112,069 shares in the company, valued at $5,430,863.74. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph Wm Foran bought 5,000 shares of the business's 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 purchase, the chief executive officer owned 6,606 shares in the company, valued at approximately $324,817.02. This trade represents a 311.33% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,380 shares of company stock worth $549,188 in the last quarter. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MCF Advisors LLC acquired a new position in Matador Resources during the 1st quarter valued at about $26,000. Kestra Investment Management LLC raised its position 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 buying an additional 358 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company's stock worth $25,000 after purchasing an additional 400 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company's stock worth $27,000 after purchasing an additional 364 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

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.

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