Fintel reports that on June 6, 2024, Bernstein initiated coverage of Diamondback Energy (NasdaqGS:FANG) with a Outperform recommendation.
Analyst Price Forecast Suggests 19.76% Upside
As of June 1, 2024, the average one-year price target for Diamondback Energy is 228.81. The forecasts range from a low of 155.54 to a high of $276.15. The average price target represents an increase of 19.76% from its latest reported closing price of 191.05.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Diamondback Energy is 9,103MM, an increase of 10.02%. The projected annual non-GAAP EPS is 23.02.
What is the Fund Sentiment?
There are 2,113 funds or institutions reporting positions in Diamondback Energy. This is an increase of 119 owner(s) or 5.97% in the last quarter. Average portfolio weight of all funds dedicated to FANG is 0.43%, an increase of 6.66%. Total shares owned by institutions increased in the last three months by 0.18% to 192,630K shares. 
The put/call ratio of FANG is 0.79, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 9,251K shares representing 5.19% ownership of the company. In its prior filing, the firm reported owning 13,812K shares , representing a decrease of 49.31%. The firm decreased its portfolio allocation in FANG by 88.44% over the last quarter.
Price T Rowe Associates holds 8,609K shares representing 4.83% ownership of the company. In its prior filing, the firm reported owning 6,228K shares , representing an increase of 27.66%. The firm increased its portfolio allocation in FANG by 61.14% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,597K shares representing 3.14% ownership of the company. In its prior filing, the firm reported owning 5,615K shares , representing a decrease of 0.32%. The firm increased its portfolio allocation in FANG by 16.13% over the last quarter.
Jpmorgan Chase holds 4,949K shares representing 2.77% ownership of the company. In its prior filing, the firm reported owning 5,038K shares , representing a decrease of 1.80%. The firm decreased its portfolio allocation in FANG by 87.69% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 4,511K shares representing 2.53% ownership of the company. In its prior filing, the firm reported owning 4,373K shares , representing an increase of 3.05%. The firm increased its portfolio allocation in FANG by 16.21% over the last quarter.
Diamondback Energy Background Information
(This description is provided by the company.)
Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas.
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