FANG
Posted: Fri Nov 06, 2015 2:05 pm
Diamondback Energy (FANG) 3rd quarter results came in above my forecast. I am updating my forecast model now.
I have updated my forecast model for FANG and it will be on the EPG website later today.
I am raising my valuation to $89.00/share, compared to First Call's price target of $86.88.
Diamondback is a pure play on the Permian Basin where they have a outstanding leasehold position. Production will be up more than 65% YOY in 2015 and they have a decade of running room. It also has a very strong balance sheet. Their stake in Viper is another big plus.