Stifel Maintains Buy Rating for Diamondback Energy: Here's What You Need To Know

Stifel has decided to maintain its Buy rating of Diamondback Energy FANG and raise its price target from $176.00 to $178.00.

Shares of Diamondback Energy are trading up 2.38% over the last 24 hours, at $144.60 per share.

A move to $178.00 would account for a 23.1% increase from the current share price.

About Diamondback Energy

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 2022, the company reported net proven reserves of 2 billion barrels of oil equivalent. Net production averaged about 386,000 barrels per day in 2022, at a ratio of 58% oil, 21% natural gas liquids, and 21% natural gas.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.