Joseph Wm Foran Acquires 2,000 Shares of Matador Resources (NYSE:MTDR) Stock

Matador Resources (NYSE:MTDR) CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $48.55 per share, with a total value of $97,100.00. Following the acquisition, the chief executive officer now owns 43,379 shares in the company, valued at approximately $2,106,050.45. This represents a 4.83 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Joseph Wm Foran also recently made the following trade(s):

• On Friday, February 21st, Joseph Wm Foran bought 6,000 shares of Matador Resources stock. The stock was bought at an average price of $53.94 per share, with a total value of $323,640.00.
• On Friday, December 6th, Joseph Wm Foran bought 2,000 shares of Matador Resources stock. The stock was purchased at an average price of $55.18 per share, with a total value of $110,360.00.

Matador Resources Price Performance

MTDR stock opened at $46.54 on Wednesday. The firm has a market capitalization of $5.83 billion, a PE ratio of 6.52 and a beta of 3.22. The firm has a 50-day moving average of $57.89 and a two-hundred day moving average of $55.64. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a one year low of $45.27 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. On average, analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.3125 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 2.69%. Matador Resources’s payout ratio is presently 17.51%.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after buying an additional 256 shares in the last quarter. TCTC Holdings LLC increased its position in Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after acquiring an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Matador Resources by 359.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of research reports. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Benchmark reaffirmed a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Truist Financial upped their target price on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

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.