Energy Prospectus

Six analysts have submitted price target updates to TipRanks since Matador announced the $1.905 billion Ameredev Acquisition on June 12th:
All of them rate MTDR a BUY at the current price.

PT, Analyst, Firm
$85, William Janela at Mizuho Securities on 6/14/2024
$84, Gabriel Daoud at TD Cowen on 06/14/24
$91, Neal Dingmann at Truist Financial on 06/13/24
$79, Phillip Jungwirth at BMO Capital 06/13/24
$90, Gabriele Sorbara at Siebert Williams Shank & Co on 06/12/24
$85, Hanwen Chang at Wells Fargo 06/12/24

MTDR closed at $55.86 on June 14.

My current valuation is $90.

Matador is an Aggressive Growth company. The Company's production increased from 105,415 Boepd in 2022, to 131,674 Boepd in 2023, to 149,760 Boepd in Q1 2024 and after the Ameredev Acquisition closes in September production should be over 190,000 Boepd in Q4 2024 (61% crude oil).

June 18, 2024
"Investors might want to bet on Matador Resources (MTDR), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Matador is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price."

Read more: https://finance.yahoo.com/news/know-matador-mtdr-rating-upgrade-160010374.html