Insider Buying: Matador Resources (NYSE:MTDR) EVP Purchases 1,750 Shares of Stock

Matador Resources (NYSE:MTDR) EVP Bryan A. Erman purchased 1,750 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the acquisition, the executive vice president now owns 1,750 shares in the company, valued at $97,825. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Matador Resources Stock Up 0.6 %

Shares of NYSE:MTDR traded up $0.33 during midday trading on Monday, reaching $56.19. 1,212,580 shares of the company were exchanged, compared to its average volume of 1,380,972. The firm has a market cap of $7.01 billion, a PE ratio of 7.68 and a beta of 3.31. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. Matador Resources has a fifty-two week low of $47.76 and a fifty-two week high of $71.08. The stock has a fifty day simple moving average of $63.01 and a two-hundred day simple moving average of $60.55.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The company had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. During the same period in the previous year, the company posted $1.50 earnings per share. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Matador Resources will post 7.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Tuesday, March 5th. Truist Financial boosted their price objective on Matador Resources from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com raised Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Mizuho raised their target price on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. HighTower Advisors LLC raised its position in Matador Resources by 13.3% during the third quarter. HighTower Advisors LLC now owns 4,835 shares of the energy company’s stock worth $291,000 after acquiring an additional 569 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Matador Resources in the 3rd quarter valued at about $201,000. DekaBank Deutsche Girozentrale acquired a new stake in Matador Resources in the 3rd quarter valued at about $199,000. QRG Capital Management Inc. bought a new position in Matador Resources during the third quarter worth about $245,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Matador Resources during the third quarter worth about $644,000. 91.98% of the stock is owned by institutional investors.

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.