Key Points
- Insider buy: Matador Resources COO Glenn Stetson bought 500 shares at $53.94 each, a $26,970 purchase that lifted his direct ownership to 94,970 shares.
- Strong quarterly results: The company reported Q1 EPS of $1.53, beating estimates, and revenue of $941.6 million, also above expectations.
- Dividend and outlook: Matador declared a quarterly dividend of $0.375 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $65.08.
Matador Resources Company (NYSE:MTDR - Get Free Report) COO Glenn Stetson acquired 500 shares of the business's stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $53.94 per share, with a total value of $26,970.00. Following the completion of the transaction, the chief operating officer directly owned 94,970 shares of the company's stock, valued at approximately $5,122,681.80. The trade was a 0.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Matador Resources Trading Up 4.6%
Shares of MTDR stock opened at $56.06 on Tuesday. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84. The firm has a 50 day moving average price of $59.36 and a two-hundred day moving average price of $50.59. The company has a market capitalization of $6.96 billion, a PE ratio of 14.41 and a beta of 0.75. 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 - Get Free Report) last announced its earnings results 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 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 analysts' expectations of $871.57 million. During the same period last year, the firm earned $1.99 earnings per share. The business's revenue for the quarter was down 33.8% on a year-over-year basis. As a group, analysts predict that Matador Resources Company will post 7.36 earnings per share for the current year.
Matador Resources Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.7%. Matador Resources's dividend payout ratio (DPR) is currently 38.56%.
Analysts Set New Price Targets
Several brokerages have recently commented on MTDR. Truist Financial raised shares of Matador Resources from a "hold" rating to a "buy" rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, May 12th. Morgan Stanley raised their target price on shares of Matador Resources from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, May 22nd. 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 report on Tuesday, May 26th. TD Cowen increased their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Finally, Mizuho increased their price target on shares of Matador Resources from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. 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, Matador Resources has a consensus rating of "Moderate Buy" and an average target price of $65.08.
Check Out Our Latest Stock Analysis on MTDR
Hedge Funds Weigh In On Matador Resources
A number of hedge funds have recently modified their holdings of MTDR. Kestra Investment Management LLC lifted its holdings in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after purchasing an additional 358 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources during the first quarter worth $27,000. Rothschild Investment LLC lifted its holdings in shares of Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company's stock worth $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Matador Resources during the third quarter worth $35,000. Finally, Center for Financial Planning Inc. acquired a new position in shares of Matador Resources in the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 91.98% of the company's stock.
About Matador Resources
(
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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