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Wall Street JournalEvaluating Diamondback Energy: Insights From 27 Financial Analysts
27 analysts have expressed a variety of opinions on Diamondback Energy (NASDAQ:FANG) over the past quarter, offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 8 | 16 | 3 | 0 | 0 |
| Last 30D | 0 | 2 | 0 | 0 | 0 |
| 1M Ago | 4 | 8 | 0 | 0 | 0 |
| 2M Ago | 1 | 3 | 1 | 0 | 0 |
| 3M Ago | 3 | 3 | 2 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Diamondback Energy, presenting an average target of $218.85, a high estimate of $255.00, and a low estimate of $154.00. This current average has decreased by 2.26% from the previous average price target of $223.92.
Diving into Analyst Ratings: An In-Depth Exploration
The perception of Diamondback Energy by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Roger Read | Wells Fargo | Lowers | Overweight | $218.00 | $219.00 |
| Biju Perincheril | Susquehanna | Lowers | Positive | $233.00 | $237.00 |
| Neal Dingmann | Truist Securities | Raises | Buy | $230.00 | $220.00 |
| Tim Rezvan | Keybanc | Lowers | Overweight | $216.00 | $225.00 |
| Mark Lear | Piper Sandler | Raises | Overweight | $252.00 | $240.00 |
| Paul Cheng | Scotiabank | Lowers | Sector Outperform | $225.00 | $245.00 |
| Phillip Jungwirth | BMO Capital | Raises | Outperform | $215.00 | $205.00 |
| Subash Chandra | Benchmark | Raises | Buy | $195.00 | $154.00 |
| Betty Jiang | Barclays | Lowers | Overweight | $210.00 | $216.00 |
| Arun Jayaram | JP Morgan | Announces | Overweight | $182.00 | - |
| Roger Read | Wells Fargo | Lowers | Overweight | $219.00 | $230.00 |
| Stephen Richardson | Evercore ISI Group | Lowers | Outperform | $209.00 | $235.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $220.00 | $255.00 |
| Josh Silverstein | UBS | Lowers | Buy | $223.00 | $247.00 |
| Scott Hanold | RBC Capital | Maintains | Outperform | $220.00 | $220.00 |
| Devin McDermott | Morgan Stanley | Raises | Overweight | $198.00 | $185.00 |
| Lloyd Byrne | Jefferies | Announces | Hold | $185.00 | - |
| Biju Perincheril | Susquehanna | Lowers | Positive | $237.00 | $245.00 |
| Josh Silverstein | UBS | Raises | Buy | $247.00 | $245.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $240.00 | $249.00 |
| Roger Read | Wells Fargo | Lowers | Overweight | $230.00 | $231.00 |
| Scott Hanold | RBC Capital | Maintains | Outperform | $220.00 | $220.00 |
| Josh Silverstein | UBS | Lowers | Buy | $245.00 | $257.00 |
| Betty Jiang | Barclays | Raises | Equal-Weight | $216.00 | $214.00 |
| Neal Dingmann | Truist Securities | Raises | Buy | $255.00 | $249.00 |
| Subash Chandra | Benchmark | Maintains | Buy | $154.00 | $154.00 |
| Kalei Akamine | B of A Securities | Raises | Neutral | $215.00 | $201.00 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Diamondback Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Diamondback Energy compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Diamondback Energy's stock. This comparison reveals trends in analysts' expectations over time.
Capture valuable insights into Diamondback Energy's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Diamondback Energy analyst ratings.
Delving into Diamondback Energy's Background
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.
Diamondback Energy's Financial Performance
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Diamondback Energy's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 29.34%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Diamondback Energy's net margin excels beyond industry benchmarks, reaching 33.48%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.83%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Diamondback Energy's ROA excels beyond industry benchmarks, reaching 2.54%. This signifies efficient management of assets and strong financial health.
Debt Management: With a high debt-to-equity ratio of 0.69, Diamondback Energy faces challenges in effectively managing its debt levels, indicating potential financial strain.
Analyst Ratings: Simplified
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
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This article was generated by Benzinga's automated content engine and reviewed by an editor.