Insider Buying: Matador Resources (NYSE:MTDR) EVP Purchases 600 Shares of Stock

Matador Resources Company (NYSE:MTDR) EVP William Thomas Elsener bought 600 shares of Matador Resources stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $39.51 per share, with a total value of $23,706.00. Following the completion of the acquisition, the executive vice president directly owned 112,669 shares of the company’s stock, valued at approximately $4,451,552.19. The trade was a 0.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

William Thomas Elsener also recently made the following trade(s):

• On Thursday, September 11th, William Thomas Elsener bought 600 shares of Matador Resources stock. The stock was acquired at an average cost of $48.46 per share, with a total value of $29,076.00.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded down $0.50 on Tuesday, reaching $38.76. The company’s stock had a trading volume of 2,134,159 shares, compared to its average volume of 1,759,146. The stock has a market capitalization of $4.82 billion, a P/E ratio of 6.19 and a beta of 1.41. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The stock’s 50-day moving average is $45.28 and its two-hundred day moving average is $46.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.14. The firm had revenue of $939.02 million during the quarter, compared to analysts’ expectations of $893.22 million. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. As a group, sell-side analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be issued a dividend of $0.375 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 10th. Matador Resources’s dividend payout ratio is currently 23.96%.

Wall Street Analyst Weigh In

MTDR has been the subject of several analyst reports. Mizuho cut their price target on shares of Matador Resources from $69.00 to $67.00 and set an “outperform” rating for the company in a report on Friday, October 10th. UBS Group dropped their target price on shares of Matador Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. TD Cowen raised shares of Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. Wells Fargo & Company dropped their target price on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Royal Bank Of Canada increased their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.57.

Hedge Funds Weigh In On Matador Resources

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after buying an additional 400 shares in the last quarter. Kestra Investment Management LLC boosted its stake in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. MCF Advisors LLC bought a new stake in shares of Matador Resources in the 1st quarter valued at $26,000. MassMutual Private Wealth & Trust FSB boosted its stake in Matador Resources by 93.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after acquiring an additional 364 shares in the last quarter. 91.98% of the stock is owned by 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.