Matador Resources (NYSE:MTDR) COO Christopher P. Calvert Buys 1,500 Shares

by · The Markets Daily

Matador Resources (NYSE:MTDR – Get Free Report) COO Christopher P. Calvert purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $41.13 per share, for a total transaction of $61,695.00. Following the transaction, the chief operating officer now owns 36,500 shares in the company, valued at $1,501,245. This represents a 4.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Matador Resources Stock Performance

Shares of NYSE MTDR traded down $1.30 during midday trading on Monday, hitting $39.79. 820,070 shares of the company’s stock traded hands, compared to its average volume of 1,588,092. The firm has a fifty day moving average of $45.20 and a 200 day moving average of $52.94. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 5.57 and a beta of 2.74.

Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. On average, analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, May 9th. Matador Resources’s dividend payout ratio (DPR) is currently 16.78%.

Matador Resources declared that its board has authorized a share buyback plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTDR. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. KeyCorp dropped their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. UBS Group initiated coverage on shares of Matador Resources in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Royal Bank of Canada cut their price target on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $70.33.

View Our Latest Research Report on MTDR

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTDR. Altshuler Shaham Ltd bought a new position in shares of Matador Resources in the fourth quarter worth 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 valued at $28,000 after buying an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Matador Resources by 108.5% in 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 during the period. Opal Wealth Advisors LLC bought a new stake in Matador Resources during the first quarter valued at about $28,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position 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 valued at $29,000 after acquiring an additional 207 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

About Matador Resources

(Get Free Report)

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.

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