Key Points
- Insider purchase: Van Singleton II bought 500 Matador shares on Nov. 6 at $38.28 each ($19,140), increasing his holdings to 292,918 shares (a 0.17% rise).
- Dividend raised: Matador hiked its quarterly dividend to $0.375 from $0.31 (annualized $1.50), implying a ~3.8% yield; the ex-dividend date is Nov. 10 and payment is Dec. 5.
- Earnings beat and analyst view: Q3 results topped estimates with EPS $1.36 vs $1.22 and revenue $939.0M vs $893.2M, and analysts show a "Moderate Buy" consensus with an average target of $63.57.
Matador Resources Company (NYSE:MTDR - Get Free Report) insider Van Singleton II acquired 500 shares of Matador Resources stock in a transaction dated Thursday, November 6th. The shares were bought at an average cost of $38.28 per share, for a total transaction of $19,140.00. Following the completion of the purchase, the insider directly owned 292,918 shares of the company's stock, valued at approximately $11,212,901.04. The trade was a 0.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Matador Resources Trading Up 0.6%
NYSE MTDR opened at $39.60 on Tuesday. The firm has a market cap of $4.92 billion, a PE ratio of 6.33 and a beta of 1.35. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04. The stock has a 50-day moving average of $44.15 and a 200-day moving average of $46.20. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55.
Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.14. The business had revenue of $939.02 million for the quarter, compared to analyst estimates of $893.22 million. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.During the same period last year, the company earned $1.89 EPS. Matador Resources's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.
Matador Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be issued a $0.375 dividend. This is a positive change from Matador Resources's previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, November 10th. Matador Resources's dividend payout ratio (DPR) is 23.96%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company's stock worth $25,000 after purchasing an additional 400 shares during the period. Kestra Investment Management LLC grew its position 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 worth $25,000 after buying an additional 358 shares during the period. MCF Advisors LLC bought a new stake in Matador Resources during the first quarter worth about $26,000. MassMutual Private Wealth & Trust FSB boosted its stake in Matador Resources by 93.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company's stock worth $27,000 after purchasing an additional 364 shares during the period. 91.98% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on MTDR shares. Raymond James Financial reiterated an "outperform" rating and set a $55.00 price target (down from $63.00) on shares of Matador Resources in a report on Monday, October 20th. Morgan Stanley decreased their price objective on shares of Matador Resources from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Matador Resources in a research note on Tuesday, October 14th. Wells Fargo & Company dropped their target price on shares of Matador Resources from $71.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, October 24th. Finally, Bank of America cut their target price on Matador Resources from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.57.
Get Our Latest Stock Analysis on Matador Resources
Matador Resources Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
