Diamondback Energy (FANG) Update - May 29

Diamondback Energy (FANG) Update - May 29

Postby dan_s » Wed May 26, 2021 7:38 am

I will finish my review of the updated profile for FANG. This is one of my Top Picks in the Sweet 16 because it is on pace to generate close to $2 Billion of FCF from operations. They closed acquisitions of QEP and Guidon in Q1 2021 that set them up for a very strong 2nd half of 2021.
FANG closed at $75.48 on May 25
TipRanks rates it a Strong Buy: "In the last 3 months, 18 ranked analysts set 12-month price targets for FANG. The average price target among the analysts is $101.11." Here are the last five price target updates.
PT
$95.00 < Scotiabank 5-21-21
$120.00 < Mizhho Sec 5-17-21
$97.00 < Evercore 5-17-21
$107.00 < RBC Cap 5-5-21
$125.00 < Raymond James 5-4-21
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 25564
Joined: Fri Apr 23, 2010 8:22 am

Re: Diamondback Energy (FANG) Update - May 29

Postby dan_s » Wed May 26, 2021 8:17 am

We are also covering Viper Energy Partners (VNOM) in the Diamondback profile.
VNOM closed at $17.60 on May 25
Per TipRanks: "In the last 3 months, 8 ranked analysts set 12-month price targets for VNOM. The average price target among the analysts is $19.72."
Recent Updates
PT
$20.00 < Evercore ISI 5/17/21
$23.00 < Raymond James 5/5/21
$21.00 < TD Securities 5/5/21

My valuation is $23.00.

Viper is taxed as a C-Corp. It pays variable dividends, which I expect to be $1.05 to $1.15 this year and much higher in 2022 as their "Bad Hedges" expire in December, 2021.
Dan Steffens
Energy Prospectus Group
dan_s
 
Posts: 25564
Joined: Fri Apr 23, 2010 8:22 am


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