In a report released yesterday, David Deckelbaum from TD Cowen maintained a Buy rating on Matador Resources, with a price target of $62.00.
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David Deckelbaum has given his Buy rating due to a combination of factors that highlight Matador Resources’ strong performance and strategic outlook. The company exceeded production estimates for the third quarter by 4%, driven largely by increased gas volumes, and outperformed consensus EBITDA expectations, despite higher capital expenditures. This indicates efficient operational execution and the ability to deliver results above market expectations.
Furthermore, Matador Resources has increased its production guidance for 2025 by 2% while also raising its capital expenditure guidance, reflecting confidence in its growth strategy. The company is also targeting production growth in 2026, with plans to reduce total capital expenditures by 8-12% compared to 2025, suggesting improved cost efficiency. Additionally, the recent 20% increase in its fixed dividend demonstrates a commitment to returning value to shareholders, enhancing the attractiveness of the stock.
According to TipRanks, Deckelbaum is a 3-star analyst with an average return of 5.2% and a 38.53% success rate. Deckelbaum covers the Energy sector, focusing on stocks such as APA, Occidental Petroleum, and Diamondback.