Insider Buying: Matador Resources (NYSE:MTDR) COO Acquires $50,800.00 in Stock

Matador Resources Company (NYSE:MTDR) COO Glenn Stetson bought 1,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $50.80 per share, for a total transaction of $50,800.00. Following the purchase, the chief operating officer owned 96,769 shares in the company, valued at $4,915,865.20. This represents a 1.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Matador Resources Price Performance

Matador Resources stock traded down $0.43 during mid-day trading on Monday, hitting $49.98. The stock had a trading volume of 1,577,149 shares, compared to its average volume of 1,849,622. The firm has a market capitalization of $6.18 billion, a P/E ratio of 8.62 and a beta of 0.93. 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 firm’s 50 day moving average is $56.21 and its 200 day moving average is $54.51. Matador Resources Company has a one year low of $38.80 and a one year high of $66.84.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.23. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. On average, sell-side analysts forecast that Matador Resources Company will post 8.34 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. Stockholders of record on Tuesday, November 10th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources’s dividend payout ratio is currently 30.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Matador Resources in the second quarter worth $573,936,000. Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 277,839 shares during the last quarter. First Trust Advisors LP lifted its position in 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 purchasing an additional 810,808 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Matador Resources by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock valued at $74,934,000 after purchasing an additional 26,205 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Matador Resources in the 2nd quarter worth $42,184,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MTDR shares. KeyCorp lifted their target price on Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Weiss Ratings downgraded Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Seaport Research Partners assumed coverage on shares of Matador Resources in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Citigroup reduced their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lowered their target price on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.50.

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.