Insider Buying: Matador Resources (NYSE:MTDR) CFO Purchases $105,140.00 in Stock

Matador Resources Company (NYSE:MTDR) CFO Christopher Calvert purchased 2,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average cost of $52.57 per share, with a total value of $105,140.00. Following the completion of the transaction, the chief financial officer owned 46,000 shares in the company, valued at $2,418,220. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matador Resources Price Performance

Shares of MTDR opened at $50.38 on Friday. Matador Resources Company has a fifty-two week low of $37.74 and a fifty-two week high of $66.84. The firm’s 50-day simple moving average is $56.21 and its two-hundred day simple moving average is $54.51. The stock has a market cap of $6.23 billion, a PE ratio of 8.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.55.

Matador Resources (NYSE:MTDR) last released its 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 firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $1.36 earnings per share. The business’s revenue was up 33.9% on a year-over-year basis. Analysts anticipate that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen raised Matador Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded Matador Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Truist Financial lifted their price target on Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group upped their price target on shares of Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Finally, KeyCorp increased their price objective on shares of Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average target price of $68.50.

Institutional Trading of Matador Resources

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its holdings in shares of Matador Resources by 935.4% during the 2nd quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock valued at $2,824,000 after acquiring an additional 50,678 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Matador Resources during the second quarter valued at approximately $605,000. Quantbot Technologies LP purchased a new position in shares of Matador Resources during the second quarter valued at approximately $3,682,000. BlackRock Inc. bought a new position in Matador Resources during the second quarter valued at approximately $573,936,000. Finally, Morningstar Investment Management LLC bought a new position in Matador Resources during the first quarter valued at approximately $2,630,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources News Summary

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

• Positive Sentiment: Three executives bought shares on November 5: EVP William Elsener purchased 900 shares, CFO Christopher Calvert bought 2,000, and CAO Benjamin Colodney bought 500. Insider buying can signal confidence in the company’s prospects. Insider purchase report
• Positive Sentiment: Matador’s third-quarter results topped expectations: EPS was $2.08 versus $1.85 expected, while revenue reached $1.39 billion against $1.12 billion expected, up 33.9% year over year. The company also increased its quarterly dividend 17%, to $0.4375 per share. Q3 results presentation
• Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Stifel Nicolaus rating
• Neutral Sentiment: Scotiabank reaffirmed its Hold rating, suggesting a more cautious view alongside the recent Buy calls. Scotiabank rating
• Negative Sentiment: A recent Q3 review pointed to margin compression despite production growth. That could temper the positive earnings and revenue surprises if profitability remains under pressure. Q3 analysis

About Matador Resources

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.