Insider Buying: Matador Resources (NYSE:MTDR) Director Acquires 180 Shares of Stock

Matador Resources (NYSE:MTDR) Director Monika U. Ehrman bought 180 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $57.49 per share, with a total value of $10,348.20. Following the completion of the transaction, the director now owns 36,267 shares of the company’s stock, valued at $2,084,989.83. This represents a 0.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.42 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $55.59 and a two-hundred day simple moving average of $56.19. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 7.08 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the company earned $1.86 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Matador Resources’s dividend payout ratio (DPR) is presently 13.25%.

Analysts Set New Price Targets

A number of analysts have commented on the company. BMO Capital Markets boosted their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company increased their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial cut their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.31.

Institutional Trading of Matador Resources

Institutional investors have recently modified their holdings of the business. Denver PWM LLC purchased a new position in Matador Resources in the 2nd quarter valued at approximately $27,000. True Wealth Design LLC purchased a new stake in shares of Matador Resources during the third quarter worth $37,000. Avior Wealth Management LLC boosted its holdings in shares of Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after acquiring an additional 635 shares during the period. Quarry LP grew its position in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the period. 91.98% of the stock is currently owned by hedge funds and other 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.