Insider Buying: Matador Resources (NYSE:MTDR) EVP Purchases $45,280.00 in Stock

Matador Resources (NYSE:MTDR) EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Matador Resources Stock Performance

Shares of MTDR stock opened at $53.42 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 7.08 and a beta of 3.26. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The company has a 50 day moving average price of $55.59 and a 200 day moving average price of $56.19.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same period in the prior year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. Matador Resources’s payout ratio is currently 13.25%.

Institutional Trading of Matador Resources

Institutional investors have recently modified their holdings of the company. Denver PWM LLC acquired a new position in Matador Resources during the second quarter valued at approximately $27,000. True Wealth Design LLC purchased a new position in shares of Matador Resources in the 3rd quarter valued at $37,000. Quarry LP lifted its holdings in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares in the last quarter. Avior Wealth Management LLC boosted its position in Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares during the period. Finally, Covestor Ltd increased its holdings in Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MTDR shares. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Friday, December 6th. KeyCorp cut their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets increased their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. cut their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

Matador Resources Company Profile

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.