Matador Resources Company (NYSE:MTDR – Get Free Report) Director Shelley Appel acquired 1,075 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average price of $49.96 per share, for a total transaction of $53,707.00. Following the completion of the acquisition, the director directly owned 3,950 shares of the company’s stock, valued at $197,342. This trade represents a 37.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Matador Resources Trading Down 0.9%
MTDR stock traded down $0.43 during midday trading on Monday, reaching $49.98. The company’s stock had a trading volume of 1,577,149 shares, compared to its average volume of 1,849,622. The business’s 50-day simple moving average is $56.21 and its 200-day simple moving average is $54.51. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. Matador Resources Company has a 52 week low of $38.80 and a 52 week high of $66.84. The stock has a market cap of $6.18 billion, a PE ratio of 8.62 and a beta of 0.93.
Matador Resources (NYSE:MTDR – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.85 by $0.23. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, sell-side analysts expect that Matador Resources Company will post 8.34 EPS for the current year.
Matador Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources’s payout ratio is presently 30.17%.
Analysts Set New Price Targets
MTDR has been the subject of several analyst reports. Truist Financial boosted their target price on Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings downgraded shares of Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Mizuho reduced their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Morgan Stanley upped their target price on shares of Matador Resources from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Matador Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.50.
Get Our Latest Research Report on Matador Resources
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its stake in Matador Resources by 156.6% in the third quarter. Intech Investment Management LLC now owns 73,702 shares of the energy company’s stock valued at $3,802,000 after purchasing an additional 44,980 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Matador Resources by 27.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,974 shares of the energy company’s stock worth $514,000 after purchasing an additional 2,165 shares in the last quarter. Royce & Associates LP raised its stake in shares of Matador Resources by 0.4% during the 3rd quarter. Royce & Associates LP now owns 374,831 shares of the energy company’s stock worth $19,334,000 after purchasing an additional 1,337 shares in the last quarter. Diversified Trust Co raised its stake in shares of Matador Resources by 1.8% during the 3rd quarter. Diversified Trust Co now owns 24,436 shares of the energy company’s stock worth $1,260,000 after purchasing an additional 434 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Matador Resources by 27.6% in the 3rd quarter. Allworth Financial LP now owns 1,621 shares of the energy company’s stock valued at $81,000 after buying an additional 351 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.
About Matador Resources
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas.
Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company’s operations and serving other producers in the region.
Matador was founded in 2003 and is headquartered in Dallas, Texas.
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