Matador Resources (NYSE:MTDR) COO Acquires $61,695.00 in Stock

Matador Resources (NYSE:MTDR) COO Christopher P. Calvert acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $41.13 per share, for a total transaction of $61,695.00. Following the completion of the purchase, the chief operating officer now directly owns 36,500 shares of the company’s stock, valued at $1,501,245. The trade was a 4.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $40.01 on Thursday. The company has a market cap of $5.01 billion, a P/E ratio of 5.60 and a beta of 1.47. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $44.46 and a two-hundred day moving average price of $52.69. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 earnings per share. As a group, analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources’s payout ratio is 16.78%.

Matador Resources declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. Barclays PLC boosted its holdings in Matador Resources by 16.1% in the third quarter. Barclays PLC now owns 190,035 shares of the energy company’s stock worth $9,391,000 after acquiring an additional 26,289 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Matador Resources in the 3rd quarter worth $423,000. Synovus Financial Corp grew its position in Matador Resources by 32.1% in the 3rd quarter. Synovus Financial Corp now owns 22,753 shares of the energy company’s stock valued at $1,124,000 after purchasing an additional 5,529 shares during the period. Franklin Resources Inc. increased its stake in Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after purchasing an additional 107,827 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Matador Resources by 34.6% during the fourth quarter. GAMMA Investing LLC now owns 1,889 shares of the energy company’s stock worth $106,000 after buying an additional 486 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 a number of research analyst reports. Stephens reduced their target price on Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. UBS Group began coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 target price for the company. Royal Bank of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Raymond James cut their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

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.