I have updated the Diamondback Energy (FANG) forecast model and it will be available on the EPG website later today. (Just FYI: Postings under the Sweet 16 tab on the website are beyond my technical abilities, so I have to send them over to Jeff "The Tech Guy" to post for me. Jeff and Christian are the two guys that built the new EPG website for us.)
FANG had good 2nd quarter results and they raised production guidance for this year. However, I am lowering my valuation $6.25 to $83.75/share just because I want to use a more reasonable multiple of cash flow per share. First Call's price target is $92.17.
In addition to higher oil prices, it will really help FANG's valuation if NGL prices can get anywhere close to where they were last year. There are some big petrochemical industry expansions that may help NGLs in 2016.
FANG has one of the fastest growing production rates in the Sweet 16, so it is definitely a "keeper".