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On Monday, BofA analyst Noah Hungness initiated coverage of Matador Resources Company (NYSE:MTDR) with a Buy rating and a price target of $56. BofA highlighted Matador's diverse growth avenues that distinguish it from competitors, such as the development of low breakeven exploration and production assets, share repurchases, expansion of its midstream footprint, and pursuit of inorganic growth opportunities.
A pipeline snaking its way through the hills and valleys of the Delaware Basin.
Matador Resources Company (NYSE:MTDR) anticipates ~30% production growth for FQ1 2025 year-over-year, with similar growth expected for FQ2 and FQ3. This partly comes from the successful integration of high-quality Ameredev properties. Matador estimates cost savings of $30 million to $50 million through batch drilling and has expressed confidence in its ability to raise its dividend due to asset growth.
Matador Resources Company (NYSE:MTDR) is an independent energy company that acquires, explores, develops, and produces oil & natural gas resources in the US. It operates through two segments: Exploration & Production and Midstream.
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Disclosure: None. This article is originally published at Insider Monkey.