Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Buys 2,000 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $56.25 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the chief executive officer directly owned 9,479 shares in the company, valued at approximately $533,193.75. The trade was a 26.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Joseph Wm Foran also recently made the following trade(s):

• On Friday, May 29th, Joseph Wm Foran purchased 482 shares of Matador Resources stock. The shares were acquired at an average price of $52.70 per share, with a total value of $25,401.40.
• On Wednesday, May 27th, Joseph Wm Foran acquired 4,675 shares of Matador Resources stock. The stock was bought at an average price of $52.36 per share, for a total transaction of $244,783.00.

Matador Resources Trading Up 3.3%

Shares of MTDR opened at $55.32 on Tuesday. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The company has a market capitalization of $6.87 billion, a P/E ratio of 14.22 and a beta of 0.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $58.83 and its 200 day simple moving average is $51.11.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 EPS. Sell-side analysts forecast that Matador Resources Company will post 7.47 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 8th. Matador Resources’s dividend payout ratio is currently 38.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC lifted its stake in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Matador Resources during the 1st quarter worth approximately $27,000. Rothschild Investment LLC increased its stake in Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources in the 3rd quarter worth approximately $35,000. Finally, Center for Financial Planning Inc. bought a new stake in Matador Resources in the first quarter valued at approximately $41,000. 91.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MTDR. Mizuho upped their price objective on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. BMO Capital Markets raised their price objective on Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, April 6th. KeyCorp boosted their target price on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. UBS Group increased their price target on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Truist Financial raised shares of Matador Resources from a “hold” rating to a “buy” rating and lifted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Matador Resources currently has an average 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.