Diamondback EnergyFANG
Market Cap: $32.1B
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)
67% more first-time investments, than exits
New positions opened: 144 | Existing positions closed: 86
40% more repeat investments, than reductions
Existing positions increased: 502 | Existing positions reduced: 359
20% more call options, than puts
Call options by funds: $755M | Put options by funds: $629M
5% more funds holding
Funds holding: 1,088 [Q1] → 1,146 (+58) [Q2]
1% less capital invested
Capital invested by funds: $32.6B [Q1] → $32.3B (-$349M) [Q2]
1.85% less ownership
Funds ownership: 92.33% [Q1] → 90.48% (-1.85%) [Q2]
8% less funds holding in top 10
Funds holding in top 10: 24 [Q1] → 22 (-2) [Q2]
Research analyst outlook
17 Wall Street Analysts provided 1 year price targets over the past 3 months
17 analyst ratings
Susquehanna Biju Perincheril 44% 1-year accuracy 33 / 75 met price target | 32%upside $237 | Positive Maintained | 4 Sept 2024 |
UBS Josh Silverstein 22% 1-year accuracy 8 / 37 met price target | 37%upside $247 | Buy Maintained | 20 Aug 2024 |
Piper Sandler Mark Lear 24% 1-year accuracy 17 / 71 met price target | 34%upside $240 | Overweight Maintained | 15 Aug 2024 |
Wells Fargo Roger Read 29% 1-year accuracy 22 / 76 met price target | 28%upside $230 | Overweight Maintained | 14 Aug 2024 |
RBC Capital Scott Hanold 30% 1-year accuracy 11 / 37 met price target | 22%upside $220 | Outperform Reiterated | 13 Aug 2024 |
Financial journalist opinion
Based on 8 articles about FANG published over the past 30 days