Matador Resources (NYSE:MTDR) CFO Buys $79,860.00 in Stock

Key Points

• Matador Resources CFO Christopher Calvert bought 1,500 shares at an average price of $53.24, totaling $79,860 and increasing his direct ownership by 3.75% to 41,500 shares.
• The company reported stronger-than-expected quarterly results, with EPS of $1.53 versus the $1.24 consensus and revenue of $941.6 million, though revenue was still down 33.8% year over year.
• Matador also declared a quarterly dividend of $0.375 per share, equal to an annualized yield of 2.7%, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $65.08.

Matador Resources Company (NYSE:MTDR - Get Free Report) CFO Christopher Calvert bought 1,500 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the acquisition, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Matador Resources Stock Up 4.6%

Shares of MTDR stock opened at $56.06 on Tuesday. Matador Resources Company has a 12 month low of $37.14 and a 12 month high of $66.84. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The firm has a market cap of $6.96 billion, a PE ratio of 14.41 and a beta of 0.75. The stock has a 50 day moving average of $59.36 and a 200-day moving average of $50.59.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (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 business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. During the same quarter last year, the company posted $1.99 earnings per share. Matador Resources's quarterly revenue was down 33.8% on a year-over-year basis. On average, equities analysts predict that Matador Resources Company will post 7.36 EPS for the current year.

Matador Resources Dividend Announcement

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

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of Matador Resources by 1,104.8% in the first quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company's stock valued at $103,000 after acquiring an additional 1,845 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after purchasing an additional 690 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Matador Resources in the second quarter worth $255,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Matador Resources during the second quarter worth $5,126,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Matador Resources by 767.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company's stock valued at $156,000 after buying an additional 2,885 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of research reports. Truist Financial upgraded Matador Resources from a "hold" rating to a "buy" rating and raised their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their price objective on Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. UBS Group upped their target price on Matador Resources from $50.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Zacks Research cut Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Weiss Ratings downgraded shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average 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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