Diamondback EnergyFANG
About: Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2023, the company reported net proven reserves of 2.2 billion barrels of oil equivalent. Net production averaged about 448,000 barrels per day in 2023, at a ratio of 59% oil, 21% natural gas liquids, and 20% natural gas.
Employees: 1,023
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
77% more first-time investments, than exits
New positions opened: 149 | Existing positions closed: 84
40% more repeat investments, than reductions
Existing positions increased: 504 | Existing positions reduced: 359
20% more call options, than puts
Call options by funds: $757M | Put options by funds: $632M
6% more funds holding
Funds holding: 1,089 [Q1] → 1,154 (+65) [Q2]
1% less capital invested
Capital invested by funds: $32.6B [Q1] → $32.3B (-$334M) [Q2]
1.81% less ownership
Funds ownership: 92.33% [Q1] → 90.52% (-1.81%) [Q2]
8% less funds holding in top 10
Funds holding in top 10: 24 [Q1] → 22 (-2) [Q2]
Research analyst outlook
27 Wall Street Analysts provided 1 year price targets over the past 3 months
27 analyst ratings
Wells Fargo Roger Read 40% 1-year accuracy 36 / 89 met price target | 19%upside $218 | Overweight Maintained | 18 Oct 2024 |
Susquehanna Biju Perincheril 32% 1-year accuracy 20 / 63 met price target | 27%upside $233 | Positive Maintained | 18 Oct 2024 |
Truist Securities Neal Dingmann 52% 1-year accuracy 57 / 110 met price target | 25%upside $230 | Buy Maintained | 16 Oct 2024 |
Keybanc Tim Rezvan 50% 1-year accuracy 13 / 26 met price target | 18%upside $216 | Overweight Maintained | 16 Oct 2024 |
Piper Sandler Mark Lear 32% 1-year accuracy 21 / 65 met price target | 37%upside $252 | Overweight Maintained | 15 Oct 2024 |
Financial journalist opinion
Based on 38 articles about FANG published over the past 30 days
