Key Points
- CEO Joseph Wm Foran bought 4,675 shares of Matador Resources at an average price of $52.36, spending about $244,783 and boosting his holdings by more than 200% to 6,997 shares.
- Matador reported stronger-than-expected quarterly earnings of $1.53 per share, beating estimates by $0.29, on revenue of $941.6 million, though revenue was down 33.8% year over year.
- The company also announced a quarterly dividend of $0.375 per share, equivalent to an annualized yield of 2.8%, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $65.08.
Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran purchased 4,675 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the completion of the purchase, the chief executive officer owned 6,997 shares of the company's stock, valued at approximately $366,362.92. This trade represents a 201.34% increase in their ownership of the stock. The transaction 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, February 27th, Joseph Wm Foran purchased 468 shares of Matador Resources stock. The shares were purchased at an average price of $49.78 per share, for a total transaction of $23,297.04.
Matador Resources Trading Up 2.7%
Shares of Matador Resources stock opened at $53.87 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The company's 50-day simple moving average is $59.46 and its 200-day simple moving average is $50.38. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 13.85 and a beta of 0.81.
Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results 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 company had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the business posted $1.99 earnings per share. The firm's revenue for the quarter was down 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources Company will post 7.36 earnings per share for the current year.
Matador Resources Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, May 8th. Matador Resources's dividend payout ratio is presently 38.56%.
Wall Street Analyst Weigh In
MTDR has been the topic of several recent analyst reports. 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 research report on Thursday, April 16th. Zacks Research lowered shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday. Mizuho upped their target price on shares of Matador Resources from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial upgraded shares of Matador Resources from a "hold" rating to a "buy" rating and lifted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, May 12th. Finally, KeyCorp lifted their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.08.
Read Our Latest Analysis on MTDR
Institutional Trading of Matador Resources
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Matador Resources by 0.7% in the third 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 last quarter. Dimensional Fund Advisors LP grew its position in shares of Matador Resources by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company's stock valued at $439,010,000 after purchasing an additional 277,839 shares during the last quarter. State Street Corp grew its position in shares of Matador Resources by 1.9% in the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company's stock valued at $195,982,000 after purchasing an additional 86,344 shares during the last quarter. LSV Asset Management grew its position in shares of Matador Resources by 8.8% in the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company's stock valued at $163,055,000 after purchasing an additional 309,708 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.
Matador Resources Company Profile
(
Get Free Report)
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.
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