Matador Resources (MTDR) Update - Sept 21
Posted: Wed Sep 21, 2022 12:57 pm
Note received from MKM Partners this morning
We are assuming coverage of Matador Resources (MTDR) with a Buy rating and a $68 target Price Target
$68 is based on its best-in-class production growth, limited hedges on oil offering investors upside,
growing base dividend, and reasonable valuation vs. peers.
Our $68 price target is based on 3.5x our 2023 DACF estimate (based on $90 WTI oil/$3.50 HH gas).
Leo Mariani, Managing Director MKM Partners
At the time of this post MTDR was trading at $56.07 and First Call's price target is $75.27
We are assuming coverage of Matador Resources (MTDR) with a Buy rating and a $68 target Price Target
$68 is based on its best-in-class production growth, limited hedges on oil offering investors upside,
growing base dividend, and reasonable valuation vs. peers.
Our $68 price target is based on 3.5x our 2023 DACF estimate (based on $90 WTI oil/$3.50 HH gas).
Leo Mariani, Managing Director MKM Partners
At the time of this post MTDR was trading at $56.07 and First Call's price target is $75.27