Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran Buys 2,500 Shares

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran bought 2,500 shares of Matador Resources stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Joseph Wm Foran also recently made the following trade(s):

• On Monday, September 9th, Joseph Wm Foran bought 2,500 shares of Matador Resources stock. The shares were purchased at an average cost of $49.97 per share, for a total transaction of $124,925.00.
• On Friday, August 2nd, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The shares were purchased at an average cost of $55.96 per share, for a total transaction of $111,920.00.

Matador Resources Stock Up 0.6 %

MTDR opened at $49.49 on Thursday. Matador Resources has a 12 month low of $48.22 and a 12 month high of $71.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market cap of $6.18 billion, a P/E ratio of 6.78 and a beta of 3.27. The stock’s 50 day moving average price is $57.64 and its 200 day moving average price is $61.32.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period last year, the firm earned $1.42 EPS. The firm’s revenue was up 32.8% compared to the same quarter last year. As a group, research analysts predict that Matador Resources will post 7.83 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Clearbridge Investments LLC increased its position in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after purchasing an additional 214,334 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Matador Resources by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,480,882 shares of the energy company’s stock valued at $84,203,000 after purchasing an additional 52,005 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Matador Resources in a report on Thursday, July 25th. TD Cowen raised their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Wednesday, July 24th. Stephens cut their price target on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, Wolfe Research initiated coverage on Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $78.17.

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.