Market Overview

UPDATE: Stifel Raises PT on Matador Resources on Raised NAV Estimates, More Positive Outlook

Related MTDR
3 Value Stocks to Trump "Growth Fever" - Analyst Blog
Canaccord Initiates Coverage On Exploration & Production Sector
Permian Oil Surge Creates Need for Pipelines (Fox Business)

In a report published Friday, Stifel analyst Michael Scialla reiterated a Buy rating on Matador Resources Company (NYSE: MTDR), and raised the price target from $15.00 to $20.00.

In the report, Stifel noted, “We are raising our NAV estimate to $20/share from $16 and our target price to $20 from $15 based on an incrementally more positive view on Matador's Permian Basin properties where the company holds 32,899 net acres. Our NAV estimate now includes $3/share or approximately $18,000/acre for the Wolf prospect in Loving County, Texas and $1/share for the Ranger prospect in Lea County, New Mexico. While Matador has yet to report production results from its first Permian wells, the vast majority of the company's acreage in the basin has been de-risked by competitors.”

Matador Resources Company closed on Thursday at $16.57.

Latest Ratings for MTDR

DateFirmActionFromTo
Aug 2014GMPUpgradesHoldBuy
Jul 2014BMO CapitalUpgradesMarket PerformOutperform
Jul 2014Stifel NicolausDowngradesBuyHold

View More Analyst Ratings for MTDR
View the Latest Analyst Ratings

Posted-In: Michael Scialla StifelAnalyst Color Price Target Analyst Ratings

 

Related Articles (MTDR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters