Matador Resources (NYSE:MTDR) Shares Up 5.6% Following Insider Buying Activity

Matador Resources Co (NYSE:MTDR)’s share price shot up 5.6% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $14.58 and last traded at $14.47, 2,747,600 shares changed hands during trading. An increase of 8% from the average session volume of 2,540,686 shares. The stock had previously closed at $13.70.

Specifically, CEO Joseph Wm Foran purchased 10,000 shares of Matador Resources stock in a transaction on Friday, November 29th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $140,800.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Robert T. Macalik purchased 1,900 shares of Matador Resources stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $13.95 per share, for a total transaction of $26,505.00. The disclosure for this purchase can be found here. Insiders acquired a total of 33,250 shares of company stock worth $468,854 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

A number of research firms have commented on MTDR. Northland Securities reiterated a “buy” rating and issued a $22.00 price target on shares of Matador Resources in a research report on Wednesday, October 30th. ValuEngine upgraded Matador Resources from a “sell” rating to a “hold” rating in a research report on Tuesday. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $17.00 to $22.00 in a research report on Friday, October 4th. Wells Fargo & Co cut their target price on Matador Resources from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus set a $22.00 target price on Matador Resources and gave the company a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $25.27.

The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average of $14.20 and a 200 day moving average of $16.27. The company has a market cap of $1.64 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 1.82 and a beta of 2.05.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 29th. The energy company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. Matador Resources had a return on equity of 7.51% and a net margin of 20.35%. The company had revenue of $279.40 million for the quarter, compared to analyst estimates of $227.69 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, equities analysts predict that Matador Resources Co will post 1.07 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Matador Resources by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,308,531 shares of the energy company’s stock worth $204,934,000 after buying an additional 451,000 shares during the period. State Street Corp raised its stake in Matador Resources by 5.2% during the 3rd quarter. State Street Corp now owns 5,832,042 shares of the energy company’s stock worth $96,404,000 after buying an additional 288,152 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Matador Resources by 2.4% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,803,496 shares of the energy company’s stock worth $95,494,000 after buying an additional 114,100 shares during the period. Invesco Ltd. raised its stake in Matador Resources by 236.5% during the 2nd quarter. Invesco Ltd. now owns 3,362,728 shares of the energy company’s stock worth $66,850,000 after buying an additional 2,363,259 shares during the period. Finally, GW&K Investment Management LLC raised its stake in Matador Resources by 35.8% during the 3rd quarter. GW&K Investment Management LLC now owns 3,342,106 shares of the energy company’s stock worth $55,245,000 after buying an additional 880,885 shares during the period. 95.15% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Company Profile (NYSE:MTDR)

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 in 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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