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

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $56.25 per share, with a total value of $112,500.00. Following the acquisition, the chief executive officer directly owned 9,479 shares in the company, valued at $533,193.75. This trade represents a 26.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

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

Matador Resources Stock Performance

Shares of MTDR stock traded up $1.75 during midday trading on Monday, hitting $55.32. 1,275,390 shares of the company were exchanged, compared to its average volume of 1,864,705. The firm 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 quick ratio of 0.70 and a current ratio of 0.73. The firm’s 50 day moving average price is $59.01 and its two-hundred day moving average price is $51.01. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84.

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

Matador Resources Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on MTDR shares. BMO Capital Markets boosted their target price on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. TD Cowen boosted their target price on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Citigroup reduced their price target on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company increased their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.08.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its stake in shares of Matador Resources by 184.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock valued at $1,309,000 after purchasing an additional 20,011 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Matador Resources in the 3rd quarter valued at $61,615,000. Wedge Capital Management L L P NC raised its stake in Matador Resources by 25.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock worth $3,312,000 after buying an additional 15,859 shares during the period. LSV Asset Management raised its stake in shares of Matador Resources by 5.9% in the 3rd quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock valued at $158,706,000 after purchasing an additional 197,528 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Matador Resources by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock valued at $664,105,000 after purchasing an additional 101,613 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

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.