Insider Buying: Matador Resources (NYSE:MTDR) CEO Purchases 6,000 Shares of Stock

Matador Resources (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran bought 6,000 shares of Matador Resources stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares in the company, valued at approximately $2,124,103.26. The trade was a 17.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, December 6th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The shares were bought at an average cost of $55.18 per share, for a total transaction of $110,360.00.

Matador Resources Stock Up 0.7 %

Matador Resources stock traded up $0.35 during midday trading on Thursday, reaching $52.48. The stock had a trading volume of 1,318,707 shares, compared to its average volume of 1,153,947. The company has a fifty day moving average price of $58.02 and a two-hundred day moving average price of $55.74. The company has a market capitalization of $6.55 billion, a P/E ratio of 7.35 and a beta of 3.22. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, equities analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.38%. This is a positive change from Matador Resources's previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. Matador Resources's dividend payout ratio is 17.51%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MTDR shares. TD Cowen raised their price objective on Matador Resources from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Truist Financial raised their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Stephens upped their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Morgan Stanley began coverage on shares of Matador Resources in a research note on Friday, January 10th. They set an "equal weight" rating and a $78.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price target on shares of Matador Resources in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.14.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Franklin Resources Inc. increased its holdings in shares of Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company's stock worth $54,122,000 after buying an additional 107,827 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company's stock worth $22,519,000 after purchasing an additional 65,487 shares during the period. Stifel Financial Corp grew its stake in shares of Matador Resources by 81.2% in the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company's stock worth $1,498,000 after purchasing an additional 13,583 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Matador Resources by 16.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock valued at $8,088,000 after purchasing an additional 20,172 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in Matador Resources in the 3rd quarter worth approximately $10,526,000. Institutional investors own 91.98% of the company's stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.