Stifel analyst David Deckelbaum reiterated a Buy rating and $66.00 price target on Matador (NYSE: MTDR).

The analyst commented, "Matador closed on its previously announced acquisition of Ridge Runner Resources II, LLC, adding 13,600 net acres of mostly undeveloped acreage. This addition, plus prior brick-by-brick acquisitions, will bring Matador's position in the Woodford to 50,000 net acres. Matador is experiencing success in the Woodford play with the Rae's Creek well demonstrating strong productivity performance -- producing over 1,000 bbl/d of oil on average in its first 100 producing days, ~1.8x the Woodford average of ~541.6 bbl/d over the first 3 months of production and over 40% more productive than recent averages from MTDR's best targets in the Bone Spring. MTDR expects to drill a second well in 4Q2026 with plans to incrementally drill up to 15 wells by the end of 2027."

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Shares of Matador closed at $54.48 yesterday.