Diamondback Energy (FANG)

• Market cap: $52.6B
• 1 day: 0.59%
• 5 days: 2.33%
• 1 month: 12.51%
• 3 months: -2.05%
• 6 months: -14.58%
• Year to date: 8.03%
• 1 year: 20.30%
• 5 years: 101.23%
• 10 years: 186.87%
• Sector: Energy
• Industry: Crude Petroleum & Natural Gas

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 Q3 regulatory filings by fund managers ($100M+ AUM)

37% more repeat investments, than reductions

Existing positions increased: 515 | Existing positions reduced: 377

16% more first-time investments, than exits

New positions opened: 139 | Existing positions closed: 120

0% more funds holding

Funds holding: 1,158 [Q2] → 1,162 (+4) [Q3]

1% less call options, than puts

Call options by funds: $506M | Put options by funds: $513M

11% less capital invested

Capital invested by funds: $34.2B [Q2] → $30.3B (-$3.86B) [Q3]

36.01% less ownership

Funds ownership: 95.72% [Q2] → 59.71% (-36.01%) [Q3]

50% less funds holding in top 10

Funds holding in top 10: 22 [Q2] → 11 (-11) [Q3]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $190 5% upside
• Avg. target: $213 18% upside
• High target: $237 32% upside

10 analyst ratings

• positive: 10 100%
• neutral: 0 0%
• negative: 0 0%

JP Morgan Arun Jayaram 55% 1-year accuracy 17 / 31 met price target	8% upside $195	Overweight Maintained	17 Jan 2025
Truist Securities Neal Dingmann 63% 1-year accuracy 100 / 159 met price target	31% upside $236	Buy Maintained	13 Jan 2025
Wolfe Research Doug Leggate 42% 1-year accuracy 13 / 31 met price target	5% upside $190	Outperform Upgraded	3 Jan 2025
Piper Sandler Mark Lear 54% 1-year accuracy 98 / 181 met price target	29% upside $232	Overweight Maintained	17 Dec 2024
Wells Fargo Roger Read 40% 1-year accuracy 42 / 104 met price target	22% upside $219	Overweight Maintained	17 Dec 2024