Added to YB: 2024-04-10
Pitch date: 2024-04-09
MTDR [bullish]
Matador Resources Company
-32.69%
current return
Author Info
No bio for this author
Company Info
Matador Resources Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas resources in the United States.
Market Cap
$5.1B
Pitch Price
$65.74
Price Target
85.00 (+92%)
Dividend
3.62%
EV/EBITDA
3.32
P/E
6.64
EV/Sales
2.47
Sector
Oil, Gas and Consumable Fuels
Category
growth
Matador Resources: Profitable Oil Growth, Raising Target
MTDR: Permian-focused oil grower acquired Advance Energy in 2023, catalyzing strong production growth but also investor skepticism. Beat 2023 guidance across the board, allaying capital efficiency fears. Modeling $744M 2024 FCF at $81 WTI ($540M Street est at $75 WTI). Smaller bolt-ons + Advance momentum driving growth. $85 PT on 5.7x '26 EV/EBITDA (peers 5-6x, historical 7x+). Risks: Commodity prices, growth vs. cash return strategy. Outperformed in $80+ oil ('21 +200%, '22 +56%).
Read full article (19 min)