Matador Resources (NYSE:MTDR) EVP Purchases $24,260.00 in Stock

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 W. Stetson acquired 500 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $48.52 per share, with a total value of $24,260.00. Following the completion of the purchase, the executive vice president owned 93,952 shares of the company's stock, valued at $4,558,551.04. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Matador Resources Stock Down 4.2%

Shares of MTDR stock traded down $2.00 during mid-day trading on Friday, hitting $45.33. 2,693,403 shares of the stock traded hands, compared to its average volume of 1,305,981. The stock has a market cap of $5.64 billion, a P/E ratio of 6.64 and a beta of 1.49. The stock's fifty day moving average is $48.78 and its two-hundred day moving average is $46.83. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Equities analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 15th. Matador Resources's payout ratio is currently 18.30%.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently added to or reduced their stakes in MTDR. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in 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 valued at $25,000 after acquiring an additional 400 shares during the period. Kestra Investment Management LLC grew its stake in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after acquiring an additional 358 shares during the period. MCF Advisors LLC acquired a new stake in Matador Resources in the 1st quarter valued at $26,000. MassMutual Private Wealth & Trust FSB boosted its stake in Matador Resources by 93.0% during 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 during the last quarter. Finally, Allworth Financial LP boosted its stake in Matador Resources by 182.0% during 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 during the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MTDR shares. William Blair started coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. UBS Group reduced their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Mizuho reduced their price target on shares of Matador Resources from $73.00 to $69.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Raymond James Financial raised their price target on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price target on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and a consensus target price of $67.27.

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.