Insider Buying: Matador Resources (NYSE:MTDR) Director Buys 500 Shares of Stock

Matador Resources (NYSE:MTDR) Director Robert Gaines Baty purchased 500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $50.58 per share, with a total value of $25,290.00. Following the transaction, the director now owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Matador Resources Price Performance

Shares of MTDR opened at $50.40 on Tuesday. The stock’s fifty day moving average is $57.26 and its 200-day moving average is $61.14. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 6.90 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. Matador Resources has a one year low of $48.22 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. Equities analysts anticipate that Matador Resources will post 7.83 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

Analyst Upgrades and Downgrades

MTDR has been the topic of several research reports. Mizuho lowered their price target on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial lowered their price objective on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company raised their price target on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.17.

Institutional Trading of Matador Resources

A number of large investors have recently added to or reduced their stakes in MTDR. Goldman Sachs Group Inc. lifted its position in shares of Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of Matador Resources during the first quarter valued at $28,572,000. Public Employees Retirement Association of Colorado boosted its position in shares of Matador Resources by 14,874.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after purchasing an additional 424,665 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Finally, Wellington Management Group LLP increased its stake in Matador Resources by 44.8% in the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after purchasing an additional 329,522 shares in the last quarter. 91.98% of the stock is currently 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.