$FANG Point of interest identified on the weekly chart for FANG.
For more Info: x.com
The $150 price level had held and looks to be respecting the AVWAP from Oct 2022 with confirmed bullish price action I will be building a long term position in the company.
Fundamentals
Diamondback Energy has solidified its position as a leading independent oil and gas producer in the Permian Basin, holding net proven reserves of 2.2 billion barrels of oil equivalent and achieving an average production rate of approximately 448,000 barrels per day in 2023. The company's focus on maintaining a low-cost structure and generating growing free cash flow has enabled it to enhance its base dividend, reduce debt, and support ongoing production growth. Additionally, the strategic commitment to expanded transportation capacity and the synergistic relationship with its subsidiary, Viper Energy Partners, further underpin Diamondback's strong financial outlook and growth potential within the sector.
Analyst Outlook
Strong Buy 44%
Buy 46%
Hold 10%
Source: Public.com
Company Information
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 is involved in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX
