Insider Buying: Matador Resources (NYSE:MTDR) Director Buys 800 Shares of Stock

Matador Resources Company (NYSE:MTDR) Director Paul Harvey purchased 800 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $40.30 per share, for a total transaction of $32,240.00. Following the completion of the acquisition, the director directly owned 15,767 shares of the company’s stock, valued at $635,410.10. This represents a 5.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Matador Resources Stock Performance

MTDR stock traded down $0.22 during trading on Monday, hitting $39.24. 1,967,395 shares of the company’s stock traded hands, compared to its average volume of 1,757,470. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04. The stock has a fifty day moving average price of $45.48 and a two-hundred day moving average price of $46.29. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 6.27 and a beta of 1.41.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm had revenue of $939.02 million during the quarter, compared to analyst estimates of $893.22 million. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a yield of 3.8%. Matador Resources’s payout ratio is presently 23.96%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock valued at $138,000 after acquiring an additional 809 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Matador Resources during the first quarter valued at approximately $885,000. D.A. Davidson & CO. bought a new stake in Matador Resources during the first quarter worth approximately $263,000. OneDigital Investment Advisors LLC acquired a new position in Matador Resources in the first quarter worth approximately $200,000. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Matador Resources by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company’s stock valued at $2,835,000 after buying an additional 244 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

MTDR has been the subject of several recent research reports. Morgan Stanley lowered their target price on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Bank of America dropped their price objective on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank Of Canada raised their price target on shares of Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a report on Tuesday, October 14th. Finally, UBS Group cut their price target on Matador Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

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.