So far in this series, we’ve looked at the top four upstream companies based on analysts’ ratings. Those companies are Viper Energy Partners (VNOM), Earthstone Energy (ESTE), Ring Energy (REI), and WPX Energy (WPX). In this part of the series, we’ll look at Diamondback Energy (FANG), which is in fifth place in terms of analyst ratings.
About 93% of analysts rate Diamondback Energy a “buy” as of September 4, and the remaining 7% rate it a “hold.” Williams Capital last upgraded FANG to a “buy” from a “hold.” Overall, the company has seen six rating updates since the start of the year. That includes four new coverage initiations, one upgrade, and one downgrade.
Price target updates
FANG saw several price target updates following the recent announcement of its merger deal with Energen (EGN). Its average target price of $166.50 offers a ~42% upside from its current price.
For a detailed analysis of pro forma Diamondback Energy, read The Expected Synergies from the Diamondback-Energen Deal.
In the next part, we’ll look at analysts’ rating for Kosmos Energy (KOS).