Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Buys 2,500 Shares

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,500 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $39.93 per share, for a total transaction of $99,825.00. Following the completion of the transaction, the chief executive officer now directly owns 58,256 shares in the company, valued at approximately $2,326,162.08. This trade represents a 4.48 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 29th, Joseph Wm Foran bought 5,000 shares of Matador Resources stock. The stock was bought at an average cost of $40.86 per share, for a total transaction of $204,300.00.
• On Monday, March 3rd, Joseph Wm Foran purchased 2,000 shares of Matador Resources stock. The shares were purchased at an average cost of $48.55 per share, with a total value of $97,100.00.
• On Friday, February 21st, Joseph Wm Foran acquired 6,000 shares of Matador Resources stock. The stock was purchased at an average cost of $53.94 per share, for a total transaction of $323,640.00.

Matador Resources Stock Up 1.7 %

Shares of Matador Resources stock opened at $40.33 on Wednesday. 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 has a 1 year low of $35.19 and a 1 year high of $66.89. The stock has a 50-day moving average price of $44.71 and a 200 day moving average price of $52.77. The company has a market cap of $5.05 billion, a P/E ratio of 5.65 and a beta of 1.47.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating 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 analyst estimates of $980.87 million. During the same quarter in the prior year, the business earned $1.71 EPS. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 3.10%. Matador Resources’s payout ratio is 16.78%.

Analyst Ratings Changes

Several brokerages have commented on MTDR. Morgan Stanley dropped their price target 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. Stephens cut their target price on Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Raymond James reduced their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Wells Fargo & Company reduced their price objective on shares of Matador Resources from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Royal Bank of Canada reduced their price target on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management increased its holdings in Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after buying an additional 1,098,108 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after purchasing an additional 760,122 shares in the last quarter. Webs Creek Capital Management LP acquired a new stake in shares of Matador Resources in the 4th quarter valued at $37,894,000. Alliancebernstein L.P. boosted its holdings in Matador Resources by 25.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after purchasing an additional 555,245 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Matador Resources during the fourth quarter valued at about $22,509,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.