Matador Resources Company (NYSE:MTDR - Get Free Report) CEO Joseph Foran acquired 2,500 shares of Matador Resources stock in a transaction on Tuesday, November 10th. The stock was purchased at an average cost of $49.29 per share, for a total transaction of $123,225.00. Following the purchase, the chief executive officer owned 12,272 shares in the company, valued at approximately $604,886.88. The trade was a 25.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Joseph Wm Foran also recently made the following trade(s):
- On Thursday, November 5th, Joseph Foran bought 5,000 shares of Matador Resources stock. The shares were purchased at an average price of $51.36 per share, with a total value of $256,800.00.
- On Wednesday, August 26th, Joseph Foran bought 555 shares of Matador Resources stock. The stock was acquired at an average cost of $54.49 per share, with a total value of $30,241.95.
- On Monday, August 17th, Joseph Foran bought 400 shares of Matador Resources stock. The stock was acquired at an average cost of $53.64 per share, with a total value of $21,456.00.
Matador Resources Trading Up 1.4%
Shares of MTDR opened at $52.79 on Friday. The company's fifty day moving average is $55.64 and its 200 day moving average is $54.68. Matador Resources Company has a fifty-two week low of $39.55 and a fifty-two week high of $66.84. The stock has a market capitalization of $6.53 billion, a PE ratio of 9.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.55.
Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.85 by $0.23. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $1.36 earnings per share. Matador Resources's quarterly revenue was up 33.9% compared to the same quarter last year. Sell-side analysts expect that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.
Matador Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 10th will be paid a $0.4375 dividend. This is an increase from Matador Resources's previous quarterly dividend of $0.3750. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources's payout ratio is currently 30.17%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on MTDR shares. Scotiabank started coverage on Matador Resources in a report on Thursday, October 15th. They set a "sector perform" rating and a $59.00 price objective for the company. Stephens raised their target price on shares of Matador Resources from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Citigroup cut their price target on shares of Matador Resources from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Wall Street Zen raised Matador Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 7th. Finally, Truist Financial increased their price objective on Matador Resources from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.
Check Out Our Latest Analysis on MTDR
Institutional Investors Weigh In On Matador Resources
Several hedge funds have recently modified their holdings of MTDR. BlackRock Inc. purchased a new stake in Matador Resources in the 2nd quarter worth $573,936,000. Bank of New York Mellon Corp acquired a new position in shares of Matador Resources during the 2nd quarter worth about $56,161,000. Bank of America Corp DE acquired a new position in shares of Matador Resources during the 2nd quarter worth about $42,184,000. Value Holdings Management CO. LLC purchased a new position in Matador Resources in the 2nd quarter valued at about $41,532,000. Finally, First Trust Advisors LP lifted its stake in 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 valued at $100,798,000 after buying an additional 810,808 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.
About Matador Resources
(
Get Free Report)
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company's operations and serving other producers in the region.
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