Brokerage Firm Rating Update on Diamondback Energy (FANG)

Diamondback Energy (FANG) : Zacks Investment Research ranks Diamondback Energy (FANG) as 3, which is a Hold recommendation. 14 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 21 research analysts is 1.57, which indicates as a Buy.

Diamondback Energy (FANG) : 20 investment research analysts covering Diamondback Energy (FANG) have an average price target of $104.55 for the near short term. The highest target price given by the Brokerage Firm to the stock is $135 and the lowest target is $82 for the short term. Analysts expect the variance to be within $12.76 of the average price.


For the current week, the company shares have a recommendation consensus of Buy. Also, Williams Capital Group initiates coverage on Diamondback Energy (NASDAQ:FANG) . The global brokerage major announces a current price target of $105 per share. Analysts at the Williams Capital Group have a current rating of Hold on the shares. The rating by the firm was issued on August 29, 2016.

Diamondback Energy (NASDAQ:FANG): The stock opened at $97.6 and touched an intraday high of $98.95 on Wednesday. During the day, the stock corrected to an intraday low of $96.49, however, the bulls stepped in and pushed the price higher to close in the green at $98.56 with a gain of 1.45% for the day. The total traded volume for the day was 997,923. The stock had closed at $97.15 in the previous trading session.

Diamondback Energy, Inc. is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company, through its subsidiary Viper, owns mineral interests underlying approximately 24,528 gross (15,948 net) acres in Midland County Texas in the Permian Basin. Approximately 43% of these net acres are operated by the Company. As of December 31, 2014, it had drilled or participated in the drilling of 405 gross (343 net) wells on its leasehold acreage in this area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico. The Companys activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which it refers to collectively as the Wolfberry play.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.