Insider Buying: Matador Resources (NYSE:MTDR) CEO Buys 2,000 Shares of Stock

Matador Resources Company (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $53.07 per share, with a total value of $106,140.00. Following the acquisition, the chief executive officer owned 11,479 shares in the company, valued at $609,190.53. This represents a 21.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, June 4th, Joseph Wm Foran acquired 2,000 shares of Matador Resources stock. The shares were bought at an average cost of $56.25 per share, for a total transaction of $112,500.00.
• On Friday, May 29th, Joseph Wm Foran bought 482 shares of Matador Resources stock. The stock was bought at an average price of $52.70 per share, for a total transaction 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 Up 2.5%

MTDR opened at $55.10 on Thursday. The company has a market cap of $6.84 billion, a PE ratio of 14.16 and a beta of 0.74. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a 50-day moving average price of $58.40 and a 200 day moving average price of $51.30. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the previous year, the business earned $1.99 EPS. Matador Resources’s quarterly revenue was down 33.8% on a year-over-year basis. Sell-side analysts expect that Matador Resources Company will post 7.5 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTDR. CIBC Bancorp USA Inc. purchased a new stake in Matador Resources in the third quarter valued at $61,615,000. Wellington Management Group LLP grew its holdings in shares of Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after purchasing an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Matador Resources during the 4th quarter worth $53,249,000. First Trust Advisors LP increased its position in shares of Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after purchasing an additional 810,808 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in Matador Resources by 2,495.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after buying an additional 531,551 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. 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. Wells Fargo & Company upped their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. KeyCorp raised their price target on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Citigroup lowered 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 report on Tuesday, May 26th. Finally, Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.