William Thomas Elsener, Executive Vice President of Reservoir Engineering at Matador Resources Co (NYSE:MTDR), recently acquired 800 shares of the company's common stock. The transaction, which took place on December 13, 2024, involved a purchase at a price of $56.60 per share, amounting to a total value of $45,280. According to InvestingPro data, this purchase comes at an interesting time as the company, currently valued at $7.07 billion, trades below its Fair Value with a modest P/E ratio of 7.47.
Following this acquisition, Elsener's total direct ownership stands at 102,964 shares. This figure includes shares acquired through Matador's Employee Stock Purchase Plan, as well as restricted stock grants from 2022 and 2023 that vest over the coming years. InvestingPro analysis reveals the company maintains a "GREAT" financial health score, pays a 1.76% dividend yield, and shows notably volatile stock price movements. Get access to 7 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, Matador Resources has been making significant strides in the energy sector. 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.
In a strategic move, Matador Resources sold its 19% ownership stake in Piñon Midstream, LLC, generating approximately $113 million. The company plans to use these proceeds towards reducing its current outstanding borrowings under a $2.25 billion credit facility.
Financial services firm Stephens raised its price target on Matador Resources shares to $80.00, up from the previous target of $78.00, maintaining an Overweight rating. This adjustment follows the recent sale of the Pronto Midstream assets to San Mateo. TD Cowen also reaffirmed a Buy rating on Matador Resources shares, citing positive takeaways from a recent energy conference.
These are the recent developments that have shaped Matador Resources' corporate landscape. The company's strategic decisions and strong financial performance have been noted by analysts, with upgrades and sustained ratings reflecting their confidence in Matador's future.
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