Insider Buying: Matador Resources (NYSE:MTDR) Insider Buys 2,000 Shares of Stock

Matador Resources (NYSE:MTDR) insider Van H. Singleton II bought 2,000 shares of the stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $53.21 per share, for a total transaction of $106,420.00. Following the acquisition, the insider now directly owns 289,135 shares of the company’s stock, valued at approximately $15,384,873.35. This represents a 0.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $52.48 on Friday. The stock has a 50 day moving average price of $58.02 and a 200-day moving average price of $55.74. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 7.35 and a beta of 3.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 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 firm had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Equities analysts expect that Matador Resources will post 8.53 EPS 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 issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.38%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 28th. Matador Resources’s dividend payout ratio is presently 17.51%.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Altshuler Shaham Ltd bought a new position in shares of Matador Resources during the fourth quarter valued at approximately $25,000. TCTC Holdings LLC lifted its stake in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after acquiring an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after acquiring an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Matador Resources by 359.5% in 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 during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MTDR shares. Wells Fargo & Company lifted their price target 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. Truist Financial lifted their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Finally, Morgan Stanley initiated coverage on Matador Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average 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.