Matador Resources (MTDR) Update - May 9

dan_s · Post by **dan_s** » Wed May 09, 2018 1:50 pm

I have updated my forecast/valuation model for MTDR. It will be posted to the EPG website later today.

I am increasing my valuation by $5.00 to $45.00, primarily because I have increased my oil price assumption for all future periods. I also now believe that Matador will finish this year with production at or above the high end of their production guidance.

Matador crushed First Call's EPS and CFPS forecasts for Q1 and they will do the same in Q2. As of today, First Call's price target for MTDR is $37.29.

None of the analysts that cover Matador have submitted new forecast/valuations models to Reuters (i.e. - First Call). Therefore, the current First Call price target is "old news". It will be going a lot higher as The Wall Street Gang are now adjusting their oil price decks quite a bit higher.