Matador Resources (NYSE:MTDR) Stock: Insider Paul Harvey Acquires 500 Shares

Matador Resources Company (NYSE:MTDR) Director Paul Harvey acquired 500 shares of Matador Resources stock in a transaction on Thursday, November 5th. The shares were purchased at an average cost of $52.72 per share, with a total value of $26,360.00. Following the completion of the acquisition, the director owned 33,121 shares of the company’s stock, valued at $1,746,139.12. This trade represents a 1.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Matador Resources Stock Up 0.7%

MTDR stock opened at $50.31 on Wednesday. The stock has a fifty day moving average of $55.92 and a 200-day moving average of $54.58. Matador Resources Company has a fifty-two week low of $39.55 and a fifty-two week high of $66.84. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 8.67 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) last posted its quarterly earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share (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 company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. As a group, equities research analysts predict that Matador Resources Company will post 8.34 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.4375 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, November 10th. Matador Resources’s dividend payout ratio (DPR) is currently 25.86%.

Trending Headlines about Matador Resources

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Company insiders made substantial open-market purchases. CEO Joseph Foran bought 5,000 shares for about $256,800, and COO Glenn Stetson purchased 1,000 shares. Directors Shelley Appel and Paul Harvey also bought shares, bringing the reported purchases to roughly $401,000 in total. Insider buying can signal confidence in the company’s outlook. Insider transactions
• Positive Sentiment: Wall Street Zen upgraded MTDR from “buy” to “strong buy,” adding a favorable analyst signal. Wall Street Zen upgrade
• Positive Sentiment: Matador raised its quarterly dividend to $0.4375 per share from $0.375, an increase of about 17%, offering investors a higher payout.
• Positive Sentiment: The latest reported quarter also showed earnings of $2.08 per share, above the $1.85 consensus estimate, while revenue rose 33.9% year over year.

Hedge Funds Weigh In On Matador Resources

A number of large investors have recently bought and sold shares of MTDR. BlackRock Inc. purchased a new stake in shares of Matador Resources during the second quarter valued at approximately $573,936,000. Dimensional Fund Advisors LP grew its holdings in shares of Matador Resources by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after purchasing an additional 277,839 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Matador Resources by 103.3% in the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after purchasing an additional 810,808 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Matador Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock worth $74,934,000 after purchasing an additional 26,205 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Matador Resources in the second quarter worth $42,184,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTDR has been the topic of several recent analyst reports. Stephens increased their target price on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Stifel Nicolaus assumed coverage on shares of Matador Resources in a research report on Thursday, September 10th. They set a “buy” rating and a $66.00 target price for the company. Scotiabank began coverage on shares of Matador Resources in a report on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 price target on the stock. Morgan Stanley increased their target price on Matador Resources from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Finally, KeyCorp raised their price target on Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.50.

Matador Resources Company Profile

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.