Insider Buying: Matador Resources (NYSE:MTDR) EVP Purchases $46,332.00 in Stock

Matador Resources Company (NYSE:MTDR) EVP William Elsener purchased 900 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was bought at an average cost of $51.48 per share, with a total value of $46,332.00. Following the completion of the purchase, the executive vice president owned 115,779 shares of the company’s stock, valued at approximately $5,960,302.92. This represents a 0.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 10th, William Elsener acquired 850 shares of Matador Resources stock. The shares were bought at an average price of $50.94 per share, for a total transaction of $43,299.00.

Matador Resources Price Performance

MTDR stock opened at $50.38 on Monday. The stock has a market capitalization of $6.23 billion, a PE ratio of 8.69 and a beta of 0.93. The company’s 50-day moving average is $56.21 and its 200-day moving average is $54.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.55 and a quick ratio of 0.53. Matador Resources Company has a 1 year low of $37.74 and a 1 year high of $66.84.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.85 by $0.23. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $1.36 EPS. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. Equities research analysts expect that Matador Resources Company will post 8.34 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 10th will be issued a $0.4375 dividend. The ex-dividend date is Tuesday, November 10th. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 annualized dividend and a yield of 3.5%. Matador Resources’s dividend payout ratio is currently 25.86%.

Analysts Set New Price Targets

Several research firms have recently commented on MTDR. Stifel Nicolaus assumed coverage on Matador Resources in a report on Thursday, September 10th. They set a “buy” rating and a $66.00 price objective for the company. Morgan Stanley increased their target price on Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Citigroup cut their target price on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Stephens lifted their price target on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, Truist Financial boosted their price target on shares of Matador Resources from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Matador Resources News Summary

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Three executives bought shares on November 5: EVP William Elsener purchased 900 shares, CFO Christopher Calvert bought 2,000, and CAO Benjamin Colodney bought 500. Insider buying can signal confidence in the company’s prospects. Insider purchase report
• Positive Sentiment: Matador’s third-quarter results topped expectations: EPS was $2.08 versus $1.85 expected, while revenue reached $1.39 billion against $1.12 billion expected, up 33.9% year over year. The company also increased its quarterly dividend 17%, to $0.4375 per share. Q3 results presentation
• Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Stifel Nicolaus rating
• Neutral Sentiment: Scotiabank reaffirmed its Hold rating, suggesting a more cautious view alongside the recent Buy calls. Scotiabank rating
• Negative Sentiment: A recent Q3 review pointed to margin compression despite production growth. That could temper the positive earnings and revenue surprises if profitability remains under pressure. Q3 analysis

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTDR. BlackRock Inc. purchased a new stake in Matador Resources during the second quarter valued at about $573,936,000. Bank of New York Mellon Corp bought a new stake in shares of Matador Resources in the second quarter valued at approximately $56,161,000. Bank of America Corp DE bought a new stake in shares of Matador Resources in the second quarter valued at approximately $42,184,000. Value Holdings Management CO. LLC purchased a new stake in shares of Matador Resources during the 2nd quarter valued at approximately $41,532,000. Finally, First Trust Advisors LP lifted its stake in shares of 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 buying an additional 810,808 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.