Raymond James lowered the firm’s price target on Diamondback Energy (FANG) to $212 from $221 and keeps a Strong Buy rating on the shares due to a weaker commodity strip. Diamondback raised its FY25 production guidance by 2% and lowered its capital expenditure budget by 3% after cutting it 10% in Q1, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FANG:
- Diamondback Energy initiated with a Buy at Melius Research
- Positive Growth Outlook for Viper Following Strategic Acquisition of Sitio Royalties Corp
- Diamondback Energy raises Q3 net production view to 908K MBOE/d – 938K MBOE/d
- Viper Energy sees Q3 average oil production 54,500-57,500 bo/d
- Viper Energy closes acquisition of Sitio Royalties