Insider Buying: Matador Resources (NYSE:MTDR) CEO Purchases $256,800.00 in Stock

Matador Resources Company (NYSE:MTDR – Get Free Report) CEO Joseph Foran acquired 5,000 shares of Matador Resources stock in a transaction dated Thursday, November 5th. The shares were bought at an average cost of $51.36 per share, with a total value of $256,800.00. Following the transaction, the chief executive officer owned 9,772 shares in the company, valued at approximately $501,889.92. This trade represents a 104.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, August 26th, Joseph Foran bought 555 shares of Matador Resources stock. The shares were bought at an average price of $54.49 per share, for a total transaction of $30,241.95.
  • On Monday, August 17th, Joseph Foran bought 400 shares of Matador Resources stock. The shares were bought at an average price of $53.64 per share, for a total transaction of $21,456.00.
  • On Thursday, August 13th, Joseph Foran bought 5,000 shares of Matador Resources stock. The shares were bought at an average cost of $51.44 per share, for a total transaction of $257,200.00.
  • On Wednesday, August 12th, Joseph Foran purchased 10,000 shares of Matador Resources stock. The stock was bought at an average price of $52.16 per share, with a total value of $521,600.00.
  • On Tuesday, August 11th, Joseph Foran purchased 709 shares of Matador Resources stock. The stock was bought at an average price of $51.68 per share, with a total value of $36,641.12.

Matador Resources Trading Up 3.5%

MTDR opened at $52.10 on Thursday. Matador Resources Company has a 1-year low of $39.55 and a 1-year high of $66.84. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The company has a market cap of $6.45 billion, a P/E ratio of 8.98 and a beta of 0.93. The company has a fifty day moving average price of $55.78 and a two-hundred day moving average price of $54.62.

Matador Resources (NYSE:MTDR – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.23. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.12 billion. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. Analysts predict that Matador Resources Company will post 8.34 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. Matador Resources’s dividend payout ratio is presently 30.17%.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new position in shares of Matador Resources in the third quarter valued at approximately $25,000. Center for Financial Planning Inc. purchased a new position in shares of Matador Resources during the first quarter valued at approximately $41,000. Altshuler Shaham Ltd boosted its position in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after buying an additional 201 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in Matador Resources during the second quarter worth $44,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Matador Resources during the second quarter worth $54,000. 91.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price target on Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Wells Fargo & Company reduced their price objective on Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Seaport Research Partners began coverage on Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Wall Street Zen raised Matador Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Finally, KeyCorp increased their target price on Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.50.

Read Our Latest Research Report on Matador Resources

Matador Resources Company Profile

(Get Free Report)

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.

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