In trading on Tuesday, shares of Matador Resources Co (Symbol: MTDR) touched a new 52-week low of $45.27/share. That's a $25.81 share price drop, or -36.31% decline from the 52-week high of $71.08 set back on 04/12/2024. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for MTDR that means the stock would have to gain 57.01% to get back to the 52-week high. For a move like that, Matador Resources Co would need fundamental strength at the business level.
Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as MTDR shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, MTDR has seen 13 different instances of insiders buying over the past six months.
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 09/06/2024 | Robert T. Macalik | EVP, Chief Accounting Officer | 500 | $50.25 | $25,125.00 |
| 09/06/2024 | Bryan A. Erman | EVP, GC and Head of M&A | 1,000 | $50.35 | $50,350.00 |
| 09/06/2024 | Brian J. Willey | EVP and CFO | 1,500 | $50.50 | $75,750.00 |
| 09/06/2024 | Joseph Wm Foran | Chairman and CEO | 2,500 | $51.47 | $128,675.00 |
| 09/10/2024 | Shelley F. Appel | Director | 500 | $49.83 | $24,916.00 |
| 09/09/2024 | Christopher P. Calvert | EVP and COO | 1,000 | $50.30 | $50,300.00 |
| 09/09/2024 | Van H. Singleton II | President-Land, A&D, Planning | 1,000 | $50.09 | $50,090.00 |
| 09/09/2024 | Joseph Wm Foran | Chairman and CEO | 2,500 | $49.97 | $124,925.00 |
| 09/10/2024 | William Thomas Elsener | EVP, Reservoir Engineering | 500 | $49.47 | $24,735.00 |
| 09/13/2024 | Robert Gaines Baty | Director | 500 | $50.58 | $25,290.00 |
| 10/29/2024 | Monika U. Ehrman | Director | 305 | $50.92 | $15,530.60 |
| 10/30/2024 | Glenn W. Stetson | EVP-Production | 1,000 | $51.33 | $51,330.00 |
| 12/06/2024 | Joseph Wm Foran | Chairman and CEO | 2,000 | $55.18 | $110,360.00 |
| 12/13/2024 | William Thomas Elsener | EVP, Reservoir Engineering | 800 | $56.60 | $45,280.00 |
| 12/13/2024 | Monika U. Ehrman | Director | 180 | $57.49 | $10,348.20 |
| 02/21/2025 | Joseph Wm Foran | Chairman and CEO | 6,000 | $53.94 | $323,640.00 |
| 02/21/2025 | Paul W. Harvey | Director | 600 | $55.20 | $33,120.00 |
| 02/21/2025 | Shelley F. Appel | Director | 300 | $54.45 | $16,335.00 |
| 02/21/2025 | Van H. Singleton II | President-Land, A&D, Planning | 2,000 | $53.21 | $106,420.00 |
| 02/25/2025 | Van H. Singleton II | President-Land, A&D, Planning | 1,000 | $52.72 | $52,720.00 |
| 02/26/2025 | William Thomas Elsener | EVP, Reservoir Engineering | 1,000 | $52.40 | $52,400.00 |
| 02/26/2025 | Joseph Wm Foran | Chairman and CEO | 2,000 | $51.54 | $103,080.00 |
| 02/21/2025 | Bryan A. Erman | EVP, GC and Head of M&A | 1,000 | $54.99 | $54,990.00 |
| 02/21/2025 | Christopher P. Calvert | EVP and COO | 1,300 | $55.17 | $71,721.00 |
| 02/21/2025 | Glenn W. Stetson | EVP-Production | 1,000 | $53.06 | $53,060.00 |
| 02/25/2025 | Susan M. Ward | Director | 2,000 | $52.81 | $105,620.00 |
| 02/27/2025 | Brian J. Willey | EVP and CFO | 450 | $53.06 | $23,877.00 |
| 03/03/2025 | Christopher P. Calvert | EVP and COO | 1,000 | $49.27 | $49,270.00 |
| 03/03/2025 | Brian J. Willey | EVP and CFO | 1,000 | $49.43 | $49,430.00 |
| 03/03/2025 | Joseph Wm Foran | Chairman and CEO | 2,000 | $48.55 | $97,100.00 |
In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where MTDR has traded over the past year, with the 50-day and 200-day moving averages included.
Time will tell whether the insider purchases foretell a future rebound for MTDR shares, which are presently showing a last trade of $46.03/share, slightly above the new 52-week low.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
