RBC Capital Reaffirms Their Buy Rating on Diamondback (FANG)

RBC Capital analyst Scott Hanold maintained a Buy rating on Diamondback (FANG) on October 16 and set a price target of $50.00. The company’s shares closed last Friday at $29.29.

According to TipRanks.com, Hanold ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -15.6% and a 29.9% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Southwestern Energy, and Matador Resources.

Diamondback has an analyst consensus of Strong Buy, with a price target consensus of $52.56, representing a 72.2% upside. In a report issued on October 14, Citigroup also maintained a Buy rating on the stock with a $46.00 price target.

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The company has a one-year high of $96.92 and a one-year low of $14.55. Currently, Diamondback has an average volume of 2.39M.

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Diamondback Energy, Inc. is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas. The Midstream Services segment involves in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX.

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