Matador Resources (NYSE:MTDR) Director Buys $26,360.00 in Stock

Matador Resources Company (NYSE:MTDR) Director Paul Harvey acquired 500 shares of Matador Resources stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $52.72 per share, with a total value of $26,360.00. Following the completion of the transaction, the director owned 33,121 shares of the company’s stock, valued at approximately $1,746,139.12. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Matador Resources Price Performance

NYSE:MTDR opened at $50.38 on Monday. Matador Resources Company has a one year low of $37.74 and a one year high of $66.84. The company has a market cap of $6.23 billion, a P/E ratio of 8.69 and a beta of 0.93. The firm’s fifty day moving average price is $56.21 and its two-hundred day moving average price is $54.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.55 and a quick ratio of 0.53.

Matador Resources (NYSE:MTDR) last issued 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 company 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 company’s revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. Equities analysts expect that Matador Resources Company will post 8.34 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be paid a $0.4375 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date is Tuesday, November 10th. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%. Matador Resources’s dividend payout ratio (DPR) is currently 25.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stephens increased their price target on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Seaport Research Partners initiated coverage on Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Truist Financial upped their target price on Matador Resources from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus assumed coverage on Matador Resources in a research note on Thursday, September 10th. They set a “buy” rating and a $66.00 target price on the stock. Finally, Scotiabank began coverage on Matador Resources in a research note on Thursday, October 15th. They set a “sector perform” rating and a $59.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently made changes to their positions in MTDR. Root Financial Partners LLC acquired a new stake in Matador Resources during the third quarter worth approximately $25,000. Center for Financial Planning Inc. acquired a new position in Matador Resources in the 1st quarter valued at $41,000. Altshuler Shaham Ltd raised its holdings in Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after acquiring an additional 201 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Matador Resources in the 2nd quarter valued at $44,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Matador Resources during the 2nd quarter valued at $54,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

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.