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

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Matador Resources Company Announces Commencement of 7M Common Stock Offering

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
Apr 2015SunTrust Robinson HumphreyMaintainsBuy
Mar 2015Global HunterInitiates Coverage on
Mar 2015KLR GroupDowngradesAccumulateHold

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

 

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