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

Matador Resources (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran bought 5,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average price of $40.86 per share, for a total transaction of $204,300.00. Following the acquisition, the chief executive officer now directly owns 50,756 shares of the company's stock, valued at approximately $2,073,890.16. The trade was a 10.93 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, March 3rd, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The shares were bought at an average price of $48.55 per share, for a total transaction of $97,100.00.
• On Friday, February 21st, Joseph Wm Foran purchased 6,000 shares of Matador Resources stock. The stock was bought at an average cost of $53.94 per share, with a total value of $323,640.00.

Matador Resources Stock Up 1.5 %

Shares of NYSE MTDR traded up $0.59 during midday trading on Friday, reaching $41.08. The company's stock had a trading volume of 1,536,673 shares, compared to its average volume of 1,590,178. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89. The stock has a 50 day simple moving average of $45.20 and a 200-day simple moving average of $52.93. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 5.75 and a beta of 2.74. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. During the same period in the previous year, the firm posted $1.71 EPS. The company's revenue for the quarter was up 28.7% on a year-over-year basis. Equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's payout ratio is presently 16.78%.

Matador Resources announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

MTDR has been the subject of several research reports. Wolfe Research raised Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 target price for the company in a research note on Friday, January 3rd. Raymond James dropped their price objective on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Stephens dropped their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reduced their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, Benchmark reiterated a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $70.33.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the business. TCTC Holdings LLC boosted its stake in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after acquiring an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after buying an additional 207 shares during the period. Concurrent Investment Advisors LLC lifted its position in Matador Resources by 0.4% during the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock worth $2,835,000 after acquiring an additional 244 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock worth $461,000 after acquiring an additional 249 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 91.98% of the company's stock.

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.