Matador Resources (NYSE:MTDR) Director Purchases $11,790.00 in Stock

Matador Resources (NYSE:MTDR) Director Shelley F. Appel bought 300 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $39.30 per share, for a total transaction of $11,790.00. Following the transaction, the director now owns 58,741 shares in the company, valued at $2,308,521.30. The trade was a 0.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Matador Resources Price Performance

Shares of MTDR opened at $40.49 on Friday. The firm has a market capitalization of $5.07 billion, a PE ratio of 5.67 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The company’s 50-day moving average is $45.42 and its 200-day moving average is $53.00. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.71 earnings per share. Equities analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.09%. Matador Resources’s payout ratio is presently 16.78%.

Matador Resources announced that its board has authorized a share repurchase plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Matador Resources by 16.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after buying an additional 20,172 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after buying an additional 56,644 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Matador Resources by 49.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company’s stock worth $16,895,000 after acquiring an additional 99,711 shares during the period. Finally, Shaker Investments LLC OH bought a new position in Matador Resources in the fourth quarter valued at approximately $546,000. 91.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MTDR shares. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Friday, January 3rd. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. KeyCorp lowered their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Morgan Stanley dropped their target price on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. decreased their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.