UGP - Here's Why Hold Strategy is Apt for Matador Stock Now | Benzinga
Matador Resources Company (NYSE: MTDR) is a leading upstream player, having a strong foothold in prolific oil and natural gas shale and other unconventional plays. The company is likely to see earnings growth in 2024 and 2025.
What's Favoring the Stock?
The price of West Texas Intermediate crude, trading close to $80 per barrel, is highly favorable for exploration and production activities. Handsome crude price is likely to aid MTDR, carrying a Zacks Rank #3 (Hold), in increasing production volumes. For 2024, the company guided its total oil production in the band of 91,000 to 95,000 Bbl/d, suggesting a year-over-year hike of 23%.
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