Key Points
- Matador Resources CEO Joseph Wm Foran bought 2,000 shares on June 4 at an average price of $56.25, spending $112,500 and increasing his direct stake by 26.74% to 9,479 shares.
- Foran also made two earlier purchases in late May, adding 482 shares on May 29 and 4,675 shares on May 27, signaling continued insider buying.
- Matador recently beat earnings expectations, paid a quarterly dividend of $0.375 per share, and currently has a Moderate Buy analyst consensus with an average price target of $65.08.
Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Wm Foran purchased 2,000 shares of the company's stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $56.25 per share, with a total value of $112,500.00. Following the transaction, the chief executive officer directly owned 9,479 shares in the company, valued at $533,193.75. This trade represents a 26.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Joseph Wm Foran also recently made the following trade(s):
- On Friday, May 29th, Joseph Wm Foran acquired 482 shares of Matador Resources stock. The stock was purchased at an average price of $52.70 per share, for a total transaction of $25,401.40.
- On Wednesday, May 27th, Joseph Wm Foran acquired 4,675 shares of Matador Resources stock. The shares were purchased at an average cost of $52.36 per share, with a total value of $244,783.00.
Matador Resources Stock Performance
Matador Resources stock opened at $55.32 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The firm has a market cap of $6.87 billion, a P/E ratio of 14.22 and a beta of 0.75. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The firm has a 50-day moving average of $58.83 and a 200-day moving average of $51.11.
Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.Matador Resources's revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 EPS. Sell-side analysts expect that Matador Resources Company will post 7.47 EPS for the current year.
Matador Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.7%. Matador Resources's payout ratio is 38.56%.
Analysts Set New Price Targets
Several research firms recently weighed in on MTDR. Weiss Ratings cut shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 12th. UBS Group upped their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Wells Fargo & Company raised 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. Morgan Stanley boosted their price target on shares of Matador Resources from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, May 22nd. Finally, BMO Capital Markets increased their price target on shares of Matador Resources from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.08.
View Our Latest Stock Analysis on Matador Resources
Institutional Investors Weigh In On Matador Resources
Hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new stake in Matador Resources in the third quarter worth about $61,615,000. Wellington Management Group LLP lifted its holdings in shares of Matador Resources by 65.0% during 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. Encompass Capital Advisors LLC bought a new stake in shares of Matador Resources in the 4th quarter worth approximately $53,249,000. First Trust Advisors LP boosted its position in shares of Matador Resources by 103.3% in 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 in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of 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 worth $23,463,000 after buying an additional 531,551 shares during the last quarter. Institutional investors own 91.98% of the company's stock.
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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