Why Diamondback Energy's Stock Is Trading Higher Today

Diamondback Energy, Inc. FANG shares are trading higher after KeyBanc maintained an Overweight rating on the stock and raised its price target from $102 to $104. 

KeyBanc analyst Leo Mariani noted "We expect to see the best overall 2Q21 earnings reports from FANG based on a combination of strong 2Q21 production and disciplined capex as we see 2Q21 spend coming in at or below consensus for the company."

The analyst also noted "We expect FANG's 2Q21 oil production to come in more than 1.5% above consensus and for its 2Q21 capex to come in 5% below consensus."

Diamondback Energy is a Texas-based independent oil and natural gas company that specializes in the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas.

At the time of publication, shares of Diamondback Energy were trading higher at $79.49. The stock has a 52-week low of $23.63 and a 52-week high of $102.53.