Insider Buying: Matador Resources (NYSE:MTDR) Director Buys $26,360.00 in Stock

Matador Resources Company (NYSE:MTDR) Director Paul Harvey bought 500 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was bought at an average cost of $52.72 per share, with a total value of $26,360.00. Following the transaction, the director directly owned 33,121 shares of the company’s stock, valued at approximately $1,746,139.12. This trade represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $52.10 on Thursday. The company has a market cap of $6.45 billion, a P/E ratio of 8.98 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. Matador Resources Company has a one year low of $39.55 and a one year high of $66.84. The business’s 50-day simple moving average is $55.78 and its 200 day simple moving average is $54.62.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.85 by $0.23. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.12 billion. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. Matador Resources’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. On average, sell-side analysts forecast that Matador Resources Company will post 8.34 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.4375 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.3750. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, November 10th. Matador Resources’s payout ratio is 30.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MTDR shares. Wells Fargo & Company reduced their target price on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Truist Financial lifted their price target on shares of Matador Resources from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Weiss Ratings lowered shares of Matador Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Morgan Stanley boosted their price objective on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Finally, Seaport Research Partners initiated coverage on shares of Matador Resources in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MTDR. Advisors Asset Management Inc. bought a new stake in shares of Matador Resources in the 3rd quarter worth about $885,000. GW&K Investment Management LLC raised its stake in shares of Matador Resources by 2.1% in the 3rd quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company’s stock valued at $72,527,000 after purchasing an additional 28,704 shares in the last quarter. Heartland Advisors Inc. lifted its position in shares of Matador Resources by 6.2% during the third quarter. Heartland Advisors Inc. now owns 142,668 shares of the energy company’s stock worth $7,359,000 after purchasing an additional 8,350 shares during the last quarter. Boston Partners bought a new position in shares of Matador Resources during the third quarter worth about $1,534,000. Finally, Voya Investment Management LLC grew its stake in Matador Resources by 146.9% in the third quarter. Voya Investment Management LLC now owns 27,429 shares of the energy company’s stock worth $1,415,000 after purchasing an additional 16,320 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.