Matador Resources (NYSE:MTDR) CEO Purchases $97,100.00 in Stock

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $48.55 per share, with a total value of $97,100.00. Following the transaction, the chief executive officer now directly owns 43,379 shares in the company, valued at $2,106,050.45. This represents a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, February 21st, Joseph Wm Foran bought 6,000 shares of Matador Resources stock. The stock was bought at an average price of $53.94 per share, with a total value of $323,640.00.
• On Friday, December 6th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was bought at an average price of $55.18 per share, with a total value of $110,360.00.

Matador Resources Price Performance

Shares of MTDR opened at $45.84 on Thursday. The firm has a market cap of $5.74 billion, a PE ratio of 6.42 and a beta of 3.22. The firm’s 50 day moving average price is $57.74 and its 200 day moving average price is $55.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. As a group, research analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.3125 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 2.73%. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Analyst Ratings Changes

MTDR has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Wednesday, January 15th. TD Cowen raised their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Friday, January 3rd. Finally, Truist Financial raised their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.14.

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Matador Resources by 43.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,517 shares of the energy company’s stock worth $520,000 after buying an additional 3,181 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Matador Resources by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 13,533 shares of the energy company’s stock worth $668,000 after buying an additional 915 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Matador Resources by 7.0% during the third quarter. New York State Teachers Retirement System now owns 132,596 shares of the energy company’s stock worth $6,553,000 after buying an additional 8,732 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Matador Resources by 113.5% during the third quarter. Harbor Capital Advisors Inc. now owns 27,649 shares of the energy company’s stock worth $1,366,000 after buying an additional 14,696 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Matador Resources by 13.2% during the third quarter. QRG Capital Management Inc. now owns 5,133 shares of the energy company’s stock valued at $254,000 after acquiring an additional 598 shares during the period. Institutional investors and hedge funds 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.