Matador Resources (NYSE:MTDR) CAO Purchases $13,352.50 in Stock

Key Points

• Insider buying: Matador Resources CAO Benjamin Colodney bought 250 shares at $53.41 each, a $13,352.50 purchase that increased his holdings by 10.42% to 2,650 shares.
• Recent financial results: The company beat quarterly earnings expectations, reporting $1.53 EPS versus $1.24 expected and revenue of $941.6 million versus $871.57 million projected, though revenue still fell 33.8% year over year.
• Dividend and analyst sentiment: Matador declared a quarterly dividend of $0.375 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $65.08.

Matador Resources Company (NYSE:MTDR - Get Free Report) CAO Benjamin Colodney acquired 250 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $53.41 per share, with a total value of $13,352.50. Following the transaction, the chief accounting officer owned 2,650 shares in the company, valued at approximately $141,536.50. The trade was a 10.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded down $0.08 during trading on Tuesday, reaching $55.99. 2,165,000 shares of the company's stock traded hands, compared to its average volume of 1,661,359. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The company has a 50 day moving average of $59.36 and a 200-day moving average of $50.59. The stock has a market capitalization of $6.95 billion, a P/E ratio of 14.39 and a beta of 0.74.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm had revenue of $941.60 million during the quarter, compared to analysts' expectations of $871.57 million. During the same quarter in the prior year, the firm earned $1.99 EPS. Matador Resources's quarterly revenue was down 33.8% on a year-over-year basis. On average, equities analysts expect that Matador Resources Company will post 7.36 EPS for the current year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a $0.375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.50 annualized dividend and a yield of 2.7%. Matador Resources's dividend payout ratio is 38.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd increased its stake in shares of Matador Resources by 36.7% during the 1st 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 last quarter. Burford Brothers Inc. increased its stake in shares of Matador Resources by 0.8% during the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company's stock worth $1,693,000 after purchasing an additional 225 shares during the last quarter. Fiduciary Trust Co increased its stake in shares of Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company's stock worth $531,000 after purchasing an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company's stock worth $388,000 after purchasing an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Matador Resources by 3.5% during the 4th 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. Institutional investors and hedge funds own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, March 17th. BMO Capital Markets raised their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Roth Mkm reissued a "neutral" rating and issued a $65.00 price target (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. Zacks Research downgraded shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, KeyCorp increased their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.08.

Matador Resources Company Profile

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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