Matador Resources (NYSE:MTDR) EVP Glenn Stetson Purchases 500 Shares

Key Points

• Glenn Stetson, EVP of Matador Resources, acquired 500 shares of the company stock at $48.52 each, increasing his total holdings to 93,952 shares worth approximately $4.56 million.
• Matador Resources recently reported quarterly earnings of $1.53 EPS, surpassing estimates by $0.24, with a revenue increase of 8.2% year-over-year.
• The company announced a quarterly dividend of $0.3125 per share, resulting in a dividend yield of 2.7% and a payout ratio of 18.30%.

Matador Resources Company (NYSE:MTDR - Get Free Report) EVP Glenn Stetson purchased 500 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average cost of $48.52 per share, with a total value of $24,260.00. Following the completion of the transaction, the executive vice president directly owned 93,952 shares in the company, valued at $4,558,551.04. The trade was a 0.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Matador Resources Trading Down 2.4%

Shares of MTDR opened at $46.50 on Tuesday. The business has a 50-day moving average of $49.18 and a 200 day moving average of $46.82. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.04. The firm has a market cap of $5.79 billion, a P/E ratio of 6.81 and a beta of 1.49. 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 (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $892.86 million. During the same quarter last year, the firm posted $2.05 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.3125 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.7%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Analysts Set New Price Targets

MTDR has been the subject of a number of research analyst reports. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. KeyCorp dropped their price target on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Bank of America assumed coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 price target for the company. William Blair assumed coverage on Matador Resources in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Finally, Wells Fargo & Company dropped their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average target price of $67.27.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTDR. Adage Capital Partners GP L.L.C. raised its stake in Matador Resources by 143.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company's stock valued at $121,995,000 after purchasing an additional 1,505,000 shares during the period. LSV Asset Management boosted its holdings in shares of Matador Resources by 45.7% in the 2nd quarter. LSV Asset Management now owns 3,334,775 shares of the energy company's stock worth $159,135,000 after purchasing an additional 1,045,396 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after purchasing an additional 956,090 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Matador Resources in the 2nd quarter worth approximately $37,194,000. Finally, Nuveen LLC purchased a new position in shares of Matador Resources in the 1st quarter worth approximately $35,715,000. Institutional investors 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.

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