Matador Resources (NYSE:MTDR) CAO Purchases $13,352.50 in Stock

Matador Resources Company (NYSE:MTDR) CAO Benjamin Colodney bought 250 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $53.41 per share, for a total transaction of $13,352.50. Following the completion of the purchase, the chief accounting officer directly owned 2,650 shares in the company, valued at $141,536.50. The trade was a 10.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Matador Resources Stock Performance

NYSE:MTDR traded down $0.08 during midday trading on Tuesday, reaching $55.99. The stock had a trading volume of 2,165,000 shares, compared to its average volume of 1,661,359. Matador Resources Company has a 1-year low of $37.14 and a 1-year high of $66.84. The firm’s fifty day simple moving average is $59.36 and its 200-day simple moving average is $50.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The stock has a market capitalization of $6.95 billion, a P/E ratio of 14.39 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same period last year, the business posted $1.99 EPS. Matador Resources’s revenue was down 33.8% compared to the same quarter last year. On average, equities research analysts forecast that Matador Resources Company will post 7.36 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a $0.375 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.

Institutional Trading of Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new position in Matador Resources during the 3rd quarter valued at about $61,615,000. Wellington Management Group LLP lifted its holdings in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in Matador Resources during the 4th quarter valued at about $53,249,000. First Trust Advisors LP lifted its holdings in Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after purchasing an additional 810,808 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in Matador Resources by 2,495.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after purchasing an additional 531,551 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the topic of several research reports. TD Cowen boosted their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Citigroup reduced their target price on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Truist Financial upgraded shares of Matador Resources from a “hold” rating to a “buy” rating and increased their target price for the company from $60.00 to $67.00 in a research note on Tuesday, May 12th. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $65.08.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.