UPDATE: Jefferies Maintains Matador Resources at Buy Post Analyst Day
Jefferies reiterated its Buy rating and $13 price target on Matador Resources (NYSE: MTDR).
Jefferies commented, "Slower than expected oil growth in 2013 is a side effect of efficient development techniques (pad drilling and zipper fracking) and is not a reflection on asset quality, in our view, but we look to the reserve report for confirmation. Reserve growth is also key to maintaining adequate liquidity. Macro takeaway: Some Haynesville drilling could resume at $3.50/mcf gas given reduced costs. This underscores the resilience of nat gas supply."
Matador Resources closed at $8.24 on Thursday.
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