Insider Buying: Matador Resources (NYSE:MTDR) Director Purchases $33,120.00 in Stock

Matador Resources (NYSE:MTDR) Director Paul W. Harvey acquired 600 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the purchase, the director now directly owns 27,917 shares in the company, valued at approximately $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matador Resources Trading Up 0.7 %

Shares of MTDR opened at $52.48 on Friday. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average is $58.02 and its two-hundred day moving average is $55.74. The stock has a market cap of $6.55 billion, a PE ratio of 7.35 and a beta of 3.22.

Matador Resources (NYSE:MTDR) last announced its earnings results 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 for the quarter, compared to analyst estimates of $967.10 million. Research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is 17.51%.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after acquiring an additional 187,633 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Matador Resources by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after acquiring an additional 30,184 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after acquiring an additional 72,077 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after acquiring an additional 555,245 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after acquiring an additional 36,921 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MTDR shares. Benchmark reaffirmed a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. Wells Fargo & Company raised their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Truist Financial raised their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Stephens raised their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Morgan Stanley initiated coverage on shares of Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price 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.