Glenn Stetson Acquires 500 Shares of Matador Resources (NYSE:MTDR) Stock

Matador Resources Company (NYSE:MTDR) COO Glenn Stetson acquired 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matador Resources Stock Up 0.7%

NYSE:MTDR opened at $53.98 on Friday. The firm has a market capitalization of $6.70 billion, a PE ratio of 13.88 and a beta of 0.74. The stock has a 50 day moving average of $58.08 and a 200-day moving average of $51.41. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the company earned $1.99 earnings per share. The business’s revenue was down 33.8% compared to the same quarter last year. Analysts predict that Matador Resources Company will post 7.5 EPS for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 8th. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.

Institutional Trading of Matador Resources

Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd increased its stake in shares of Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares during the last quarter. Burford Brothers Inc. increased its stake in shares of Matador Resources by 0.8% in the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock worth $1,693,000 after acquiring an additional 225 shares during the last quarter. Fiduciary Trust Co increased its stake in shares of Matador Resources by 2.2% in the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after acquiring an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Matador Resources by 3.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTDR. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. KeyCorp increased their price objective on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. TD Cowen increased their price objective on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Truist Financial upgraded Matador Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, May 12th. Finally, BMO Capital Markets increased their price objective on Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.08.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.