Barclays analyst Betty Jiang maintains $Diamondback Energy (FANG.US)$ with a buy rating, and maintains the target price at $210.
According to TipRanks data, the analyst has a success rate of 40.8% and a total average return of -1.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Diamondback Energy (FANG.US)$'s main analysts recently are as follows:
In a possibly challenging oil macro environment due to the anticipated reintroduction of OPEC+ barrels, Diamondback Energy is expected to perform relatively well. This outlook is based on its advantageous position at the lower end of the cost curve in the Midland Basin, which boasts dividend coverage below $45 per barrel.
Diamondback Energy is perceived to have one of the most promising sequences of positive developments in the forthcoming quarters, owing to the complete integration of Endeavor. There is an anticipation that the company will reveal a 2025 program that surpasses initial capital efficiency projections. The attractiveness of the current buying opportunity is enhanced by the stock's recent decline, which is partly attributed to the liquidity event from Endeavor sellers.
Following the completion of a significant acquisition, Diamondback Energy, alongside a major industry player, has become a leading force in the Midland Basin. This strategic move positions Diamondback as a potential long-term winner with a deep core inventory and top-tier capital efficiency. Despite a re-rating of shares, they are still considered to provide reasonable value when looking at the free cash flow yield, especially given the company's enhanced conversion rate.
Note:
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