Insider Buying: Matador Resources (NYSE:MTDR) CFO Purchases 2,000 Shares of Stock

Matador Resources Company (NYSE:MTDR) CFO Christopher Calvert acquired 2,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was purchased at an average price of $52.57 per share, with a total value of $105,140.00. Following the acquisition, the chief financial officer owned 46,000 shares of the company’s stock, valued at $2,418,220. This represents a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Matador Resources Stock Down 1.0%

Shares of MTDR stock traded down $0.50 during mid-day trading on Thursday, reaching $49.87. 1,784,579 shares of the company’s stock traded hands, compared to its average volume of 1,848,261. Matador Resources Company has a 12 month low of $37.74 and a 12 month high of $66.84. The company has a market cap of $6.17 billion, a P/E ratio of 8.60 and a beta of 0.93. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $56.44 and its 200-day moving average price is $54.44.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.23. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.12 billion. Matador Resources had a net margin of 18.60% and a return on equity of 14.53%. The company’s revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. On average, equities analysts expect that Matador Resources Company will post 8.09 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, November 10th. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 annualized dividend and a yield of 3.5%. Matador Resources’s payout ratio is presently 25.73%.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in MTDR. BlackRock Inc. purchased a new position in shares of Matador Resources in the second quarter worth $573,936,000. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after buying an additional 277,839 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after buying an additional 810,808 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Matador Resources by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock worth $74,934,000 after buying an additional 26,205 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Matador Resources in the 2nd quarter worth about $42,184,000. Institutional investors own 91.98% of the company’s stock.

More Matador Resources News

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Q3 results beat expectations. Matador reported earnings of $2.08 per share, above the $1.85 consensus estimate, while revenue of $1.39 billion also topped forecasts. Earnings were up from $1.36 per share a year earlier. Read More.
• Positive Sentiment: Analysts reiterated or raised Buy ratings. Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Read More. Read More.
• Positive Sentiment: Dividend growth and gas contracts add support. Coverage highlighted a 17% dividend increase, while Matador also secured new long-term gas agreements in the Delaware Basin. Read More. Read More.
• Neutral Sentiment: Insider and institutional buying have been noted, but one report says the shares have remained range-bound despite those purchases and the company’s operating progress. Read More.
• Negative Sentiment: Margin compression may be weighing on sentiment. A Q3 review said the market response reflected pressure on margins despite production growth, tempering the impact of the earnings beat and dividend news. Read More.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings raised Matador Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Citigroup lowered their price objective on Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. UBS Group boosted their target price on Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Mizuho cut their target price on Matador Resources from $77.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Finally, Wells Fargo & Company reduced their price target on Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Matador Resources Company Profile

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.