Insider Buying: Matador Resources (NYSE:MTDR) EVP Acquires 500 Shares of Stock

Matador Resources (NYSE:MTDR) EVP Glenn W. Stetson purchased 500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $47.49 per share, for a total transaction of $23,745.00. Following the purchase, the executive vice president now owns 92,180 shares of the company’s stock, valued at approximately $4,377,628.20. This represents a 0.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Matador Resources Stock Performance

Shares of MTDR stock opened at $52.62 on Thursday. Matador Resources has a 12-month low of $43.89 and a 12-month high of $71.08. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 7.37 and a beta of 3.17. The business has a 50 day simple moving average of $55.74 and a 200 day simple moving average of $54.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. On average, equities research analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.38%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources’s dividend payout ratio is 17.51%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MTDR shares. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th. Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Truist Financial boosted their price objective on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.20.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. LSV Asset Management grew its holdings in Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after buying an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC lifted its position in Matador Resources by 145.2% in the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after purchasing an additional 760,122 shares during the period. Webs Creek Capital Management LP acquired a new stake in Matador Resources in the fourth quarter worth approximately $37,894,000. Yaupon Capital Management LP lifted its position in Matador Resources by 565.4% in the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after purchasing an additional 632,218 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Matador Resources by 25.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after purchasing an additional 555,245 shares during the period. 91.98% of the stock is owned by institutional investors.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.