Key Points
- EVP William Elsener bought 900 Matador Resources shares at an average $51.48, spending $46,332 and increasing his direct holdings to 115,779 shares.
- Matador’s third-quarter results beat estimates, with EPS of $2.08 versus $1.85 expected and revenue of $1.39 billion, up 33.9% year over year. The company also raised its quarterly dividend 17% to $0.4375 per share.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $68.50; recent ratings include both Buy and Hold recommendations.
Matador Resources Company (NYSE:MTDR - Get Free Report) EVP William Elsener bought 900 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average price of $51.48 per share, for a total transaction of $46,332.00. Following the acquisition, the executive vice president directly owned 115,779 shares in the company, valued at approximately $5,960,302.92. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
William Thomas Elsener also recently made the following trade(s):
- On Monday, August 10th, William Elsener bought 850 shares of Matador Resources stock. The shares were purchased at an average cost of $50.94 per share, with a total value of $43,299.00.
Matador Resources Stock Performance
MTDR stock traded up $0.51 during mid-day trading on Friday, reaching $50.38. 2,411,375 shares of the stock traded hands, compared to its average volume of 1,368,065. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources Company has a 52 week low of $37.74 and a 52 week high of $66.84. The business has a 50-day moving average of $56.21 and a two-hundred day moving average of $54.51. The firm has a market capitalization of $6.23 billion, a PE ratio of 8.69 and a beta of 0.93.
Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.23. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.12 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The firm's revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, equities analysts predict that Matador Resources Company will post 8.12 EPS for the current fiscal year.
Matador Resources Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Matador Resources's previous quarterly dividend of $0.3750. Matador Resources's dividend payout ratio is currently 25.86%.
Institutional Trading of Matador Resources
Several institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Matador Resources by 16.1% during the second quarter. Allworth Financial LP now owns 1,270 shares of the energy company's stock valued at $63,000 after purchasing an additional 176 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Matador Resources by 0.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 24,338 shares of the energy company's stock worth $1,255,000 after purchasing an additional 200 shares during the period. Altshuler Shaham Ltd lifted its position in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock worth $47,000 after purchasing an additional 201 shares during the period. Smith Group Asset Management LLC boosted its stake in Matador Resources by 1.6% during the third quarter. Smith Group Asset Management LLC now owns 12,941 shares of the energy company's stock worth $667,000 after buying an additional 208 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Matador Resources by 2.6% during the third quarter. Crossmark Global Holdings Inc. now owns 8,536 shares of the energy company's stock worth $440,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.
Trending Headlines about Matador Resources
Here are the key news stories impacting Matador Resources this week:
- Positive Sentiment: Three executives bought shares on November 5: EVP William Elsener purchased 900 shares, CFO Christopher Calvert bought 2,000, and CAO Benjamin Colodney bought 500. Insider buying can signal confidence in the company’s prospects. Insider purchase report
- Positive Sentiment: Matador’s third-quarter results topped expectations: EPS was $2.08 versus $1.85 expected, while revenue reached $1.39 billion against $1.12 billion expected, up 33.9% year over year. The company also increased its quarterly dividend 17%, to $0.4375 per share. Q3 results presentation
- Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Stifel Nicolaus rating
- Neutral Sentiment: Scotiabank reaffirmed its Hold rating, suggesting a more cautious view alongside the recent Buy calls. Scotiabank rating
- Negative Sentiment: A recent Q3 review pointed to margin compression despite production growth. That could temper the positive earnings and revenue surprises if profitability remains under pressure. Q3 analysis
Wall Street Analyst Weigh In
Several research analysts have commented on MTDR shares. Truist Financial lifted their price target on Matador Resources from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday. KeyCorp raised their price objective on shares of Matador Resources from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Morgan Stanley raised their price objective on shares of Matador Resources from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 15th. Mizuho dropped their target price on shares of Matador Resources from $77.00 to $71.00 and set an "outperform" rating on the stock in a research report on Monday, October 19th. Finally, UBS Group upped their target price on shares of Matador Resources from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, September 14th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and an average target price of $68.50.
Read Our Latest Stock Analysis on MTDR
About Matador Resources
(
Get Free Report)
Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.
Matador's principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company's operations and other producers in the region.
Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.
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