Matador Resources (MTDR) Valuation Update - Feb 3
Posted: Sat Feb 03, 2024 11:41 am
None of Matador's production is hedged for 2024 or 2025.
My updated lower natural gas price assumptions for 2024 and 2025 lowered my valuation by $1 to $82 per share.
Matador is an "Aggressive Growth" company that will announce a significant increase in production (~10,000 Boepd) from Q3 to Q4 2023 to their guidance of over 145,000 Boepd for Q4. < This compares to their production of 105,415 Boepd in 2022.
TipRanks: "In the last 3 months, 8 ranked analysts set 12-month price targets for MTDR. The average price target among the analysts is $70.50. The 8 price targets range from $62 to $82 per share."
Despite my lowered oil & gas price deck, I expect Matador to generate over $2.2 billion of operating cash flow in 2024. The Company's D&C capital expenditures in 2023 were $1.335 billion, so I expect the Company to continue lots of free cash flow again this year.
They've recently reported outstanding well results in the Delaware Basin.
My updated lower natural gas price assumptions for 2024 and 2025 lowered my valuation by $1 to $82 per share.
Matador is an "Aggressive Growth" company that will announce a significant increase in production (~10,000 Boepd) from Q3 to Q4 2023 to their guidance of over 145,000 Boepd for Q4. < This compares to their production of 105,415 Boepd in 2022.
TipRanks: "In the last 3 months, 8 ranked analysts set 12-month price targets for MTDR. The average price target among the analysts is $70.50. The 8 price targets range from $62 to $82 per share."
Despite my lowered oil & gas price deck, I expect Matador to generate over $2.2 billion of operating cash flow in 2024. The Company's D&C capital expenditures in 2023 were $1.335 billion, so I expect the Company to continue lots of free cash flow again this year.
They've recently reported outstanding well results in the Delaware Basin.