Per TipRanks 3 energy sector analysts increased their price targets for MTDR last week:
> 3/7/2024 Hanwen Chang at Wells Fargo raise their price target to $76
> 3/4/2024 Scott Hanold at RBC Capital holds his price target at $70
> 3/4/2024 Gabriel Daoud at TD Cowen raised his price target to $72
I will finish my review of the updated profile for MTDR this afternoon and it will be posted to the EPG website.
At the time of this post MTDR is trading at $64.38
Matador Resources (MTDR) Price Target Updates - Mar 11
Matador Resources (MTDR) Price Target Updates - Mar 11
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Matador Resources (MTDR) Price Target Updates - Mar 11
Matador is an Aggressive Growth company that is now generating free cash flow. Dividends should increase this year.
Fourth Quarter 2023 Operational and Financial Highlights
• Record quarterly average production of 154,300 BOE per day (88,700 barrels of oil per day)
• Net cash provided by operating activities of $618.3 million
• Adjusted free cash flow of $180.5 million
• Net income of $254.5 million, or $2.12 per diluted common share
• Adjusted net income of $238.4 million, or $1.99 per diluted common share
• Adjusted EBITDA of $552.8 million
• San Mateo net income of $43.7 million
• San Mateo Adjusted EBITDA of $61.6 million
Full Year 2023 Operational and Financial Highlights
• Record annual average production of 131,800 BOE per day (75,500 barrels of oil per day) < 24.9% YOY growth
• Net cash provided by operating activities of $1.87 billion
• Adjusted free cash flow of $460.0 million
• Net income of $846.1 million, or $7.05 per diluted common share
• Adjusted net income of $811.7 million, or $6.77 per diluted common share
• Adjusted EBITDA of $1.85 billion
• San Mateo net income of $131.2 million
• San Mateo Adjusted EBITDA of $200.2 million
2024 Guidance Highlights
• Oil production guidance of 91,000 to 95,000 barrels per day
• Natural gas production guidance of 370.0 to 386.0 million cubic feet per day
• Total production guidance of 153,000 to 159,000 BOE per day < Midpoint is 18.9% YOY growth
• Drilling, completing and equipping capital expenditures of $1.10 to 1.30 billion
• Midstream capital expenditures of $200 to 250 million
Fourth Quarter 2023 Operational and Financial Highlights
• Record quarterly average production of 154,300 BOE per day (88,700 barrels of oil per day)
• Net cash provided by operating activities of $618.3 million
• Adjusted free cash flow of $180.5 million
• Net income of $254.5 million, or $2.12 per diluted common share
• Adjusted net income of $238.4 million, or $1.99 per diluted common share
• Adjusted EBITDA of $552.8 million
• San Mateo net income of $43.7 million
• San Mateo Adjusted EBITDA of $61.6 million
Full Year 2023 Operational and Financial Highlights
• Record annual average production of 131,800 BOE per day (75,500 barrels of oil per day) < 24.9% YOY growth
• Net cash provided by operating activities of $1.87 billion
• Adjusted free cash flow of $460.0 million
• Net income of $846.1 million, or $7.05 per diluted common share
• Adjusted net income of $811.7 million, or $6.77 per diluted common share
• Adjusted EBITDA of $1.85 billion
• San Mateo net income of $131.2 million
• San Mateo Adjusted EBITDA of $200.2 million
2024 Guidance Highlights
• Oil production guidance of 91,000 to 95,000 barrels per day
• Natural gas production guidance of 370.0 to 386.0 million cubic feet per day
• Total production guidance of 153,000 to 159,000 BOE per day < Midpoint is 18.9% YOY growth
• Drilling, completing and equipping capital expenditures of $1.10 to 1.30 billion
• Midstream capital expenditures of $200 to 250 million
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group