TD Cowen analyst David Deckelbaum maintained a Buy rating on Diamondback yesterday and set a price target of $175.00.
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David Deckelbaum has given his Buy rating due to a combination of factors that highlight Diamondback’s strong financial performance and strategic initiatives. The company has demonstrated operational efficiency by exceeding production targets while reducing capital expenditures, which has led to an increase in production guidance without altering capital spending plans. This efficiency is further underscored by a significant reduction in unit costs, contributing to earnings that surpassed market expectations.
Additionally, Diamondback’s commitment to returning capital to shareholders is evident through its robust share repurchase program and maintained dividend yield. The company has executed the largest quarterly buyback in its history, reflecting confidence in its financial health and future prospects. These strategic moves, coupled with an optimistic production outlook and disciplined capital management, underpin Deckelbaum’s positive outlook on Diamondback’s stock.
In another report released on November 1, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $160.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FANG in relation to earlier this year.