Glenn W. Stetson, serving as the Executive Vice President and Chief Operating Officer at Matador Resources Co (NYSE:MTDR), has executed a direct equity purchase within the company. According to a recent Securities and Exchange Commission filing, Stetson acquired 500 shares of Matador Resources common stock on June 9, 2026. The transaction was executed at a price of $53.41 per share, culminating in a total transaction value of $26,705.
This acquisition occurs against a backdrop of significant equity appreciation for Matador Resources. The company's stock has surged 31% year-to-date, currently trading near the $54.91 mark. Independent analysis from InvestingPro indicates the stock may be undervalued at current levels, with a calculated Fair Value of $77.23. This valuation suggests potential upside for investors relative to the current trading price.
Following the completion of this acquisition, Stetson directly holds a total of 95,470 shares of Matador Resources common stock. This aggregate position includes 3,334 shares of restricted stock that were originally granted on February 14, 2024, and are scheduled to vest on their third anniversary. The total also accounts for additional shares obtained through the company's Employee Stock Purchase Plan.
Matador Resources recently reported its first-quarter 2026 earnings results. The company reported an earnings per share of $1.53, which exceeded analyst expectations of $1.34. However, the company's revenue for the quarter was reported at $818.7 million, falling short of the projected $873.35 million.
In strategic developments, Matador Resources announced the acquisition of 5,154 net undeveloped acres in the Delaware Basin for approximately $1.143 billion. This transaction adds over 141 net operated locations to the company's asset base. Furthermore, Matador Resources entered into multiple agreements with affiliates of Energy Transfer LP, including a gas supply agreement. This deal is designed to provide improved natural gas pricing in the second half of 2026 and aims to reduce Matador's exposure to Waha Hub pricing.