Monika U. Ehrman, a director at Matador Resources Co (NYSE:MTDR), recently acquired shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Ehrman purchased 180 shares of Matador Resources on December 13, 2024, at a price of $57.49 per share. This transaction amounted to a total of $10,348. Following this purchase, Ehrman now directly owns 36,267 shares of the company's common stock. The company, currently valued at $7 billion, trades at an attractive P/E ratio of 7.4x, with analysts setting price targets between $62 and $87.
Matador Resources, based in Dallas, Texas, operates in the crude petroleum and natural gas sector. The company's stock trades on the New York Stock Exchange under the ticker symbol MTDR. According to InvestingPro, the company has raised its dividend for 4 consecutive years and maintains strong profitability with an 80% gross margin. Additional insights and detailed analysis are available in the comprehensive Pro Research Report, covering this and 1,400+ other top US stocks.
In other recent news, Matador Resources has been displaying impressive financial performance. Stephens, a financial services firm, upgraded its price target for Matador Resources to $80.00, maintaining an Overweight rating. This adjustment came after the sale of the Pronto Midstream assets to San Mateo, which brought in nearly $300 million in cash. The sale not only strengthened Matador's cash position but also allowed the company to retain control over the assets.
TD (TSX:TD) Cowen also reaffirmed a Buy rating on Matador Resources, citing the company's effective execution and efficiency gains. The firm's analysts noted that Matador's implementation of simultaneous and trimodal fracturing operations could offer additional cost savings and operational synergies.
Matador Resources recently received about $113 million from the sale of its 19% stake in Piñon Midstream, LLC. The company plans to use these proceeds to reduce its current outstanding borrowings under a $2.25 billion credit facility.
The company reported strong Q3 2024 performance, largely attributed to the timely integration of the Ameredev acquisition. This integration led to enhanced production levels and operational efficiencies, with the company aiming to maintain production levels above 200,000 barrels of oil equivalent per day in 2025.
These are just some of the recent developments that highlight Matador Resources' ongoing efforts to optimize its asset portfolio and strengthen its balance sheet.
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