In a report published Monday, Jefferies analyst Subash Chandra reiterated a Buy rating and $13.00 price target on Matador Resources Co. MTDR.
In the report, Chandra noted, “Raising 2013 EPS on Higher Production and Q1 Oil Realizations. Increasing 2013 production forecast by 8% to 68.3 mmcfe/d. Production for the first 2 months of Q1 was significantly above our forecast as well as guidance, 64 mmcfe/d vs JEF's 56 mmcfe/d and guidance of 55 mmcfe/d. Our full-year forecast continues to be above top end of guidance of 58 - 61 mmcfe/d. Also increased Q1 oil realizations by 3% to $101/bbl on the continuation of a high LLS premium in the quarter. Q1 EPS increased to $0.11 from $0.05. 2013 EPS increased to $0.52 from $0.46.”
Matador Resources Co. closed on Friday at $8.86.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in