Matador Resources (NYSE:MTDR) Stock: Insider Glenn Stetson Purchases 1,000 Shares

Matador Resources Company (NYSE:MTDR) COO Glenn Stetson acquired 1,000 shares of the stock in a transaction dated Friday, November 6th. The stock was bought at an average cost of $50.80 per share, with a total value of $50,800.00. Following the completion of the purchase, the chief operating officer directly owned 96,769 shares in the company, valued at approximately $4,915,865.20. The trade was a 1.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Matador Resources Trading Down 0.9%

MTDR stock traded down $0.43 during mid-day trading on Monday, reaching $49.98. 1,577,149 shares of the stock traded hands, compared to its average volume of 1,849,622. Matador Resources Company has a one year low of $38.80 and a one year high of $66.84. The stock has a market capitalization of $6.18 billion, a PE ratio of 8.62 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. The business has a 50-day moving average price of $56.21 and a two-hundred day moving average price of $54.51.

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, topping 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 quarter last year, the business earned $1.36 EPS. The business’s revenue was up 33.9% on a year-over-year basis. Equities research analysts expect that Matador Resources Company will post 8.34 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be given a $0.4375 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%. Matador Resources’s dividend payout ratio is currently 30.17%.

Institutional Trading of Matador Resources

Large investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in Matador Resources by 935.4% during the 2nd quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock worth $2,824,000 after purchasing an additional 50,678 shares during the period. Great Lakes Advisors LLC bought a new stake in Matador Resources during the 2nd quarter valued at $605,000. Quantbot Technologies LP purchased a new stake in shares of Matador Resources in the 2nd quarter worth $3,682,000. BlackRock Inc. purchased a new stake in shares of Matador Resources in the 2nd quarter worth $573,936,000. Finally, Morningstar Investment Management LLC purchased a new stake in shares of Matador Resources in the 1st quarter worth $2,630,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

MTDR has been the subject of several analyst reports. Wall Street Zen raised shares of Matador Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday. UBS Group upped their price objective on Matador Resources from $56.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Truist Financial increased their target price on Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup decreased their target price on Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lowered their target price on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price 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.

Matador was founded in 2003 and is headquartered in Dallas, Texas.