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

Matador Resources (NYSE:MTDR) EVP Glenn W. Stetson acquired 500 shares of the company’s stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $47.49 per share, for a total transaction of $23,745.00. Following the completion of the purchase, the executive vice president now directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Matador Resources Price Performance

MTDR opened at $50.54 on Wednesday. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 7.08 and a beta of 3.17. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $55.88 and a 200-day moving average price of $54.89. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08.

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

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 annualized dividend and a yield of 2.47%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is currently 17.51%.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in Matador Resources by 118.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,012 shares of the energy company’s stock worth $1,295,000 after buying an additional 12,495 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Matador Resources in the 4th quarter worth approximately $7,529,000. American Trust grew its stake in Matador Resources by 11.5% in the 4th quarter. American Trust now owns 6,280 shares of the energy company’s stock worth $353,000 after buying an additional 650 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Matador Resources in the 4th quarter worth approximately $1,988,000. Finally, Neo Ivy Capital Management purchased a new position in Matador Resources in the 4th quarter worth approximately $3,705,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MTDR shares. Stephens raised their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Friday, January 3rd. Raymond James dropped their price target on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, TD Cowen raised their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.20.

About Matador Resources

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.