Market Overview

UPDATE: CK Cooper Initiates Diamondback Energy at Buy on Valuation

Related FANG
Diamondback Energy Prices 2.5M Share Offering @~$70.24/Share
Diamondback Energy Announces Positive Initial Clearfork Test Results

CK Cooper initiated coverage on Diamondback Energy (NASDAQ: FANG) with a Buy rating and a $26 price target.

CK Cooper noted, "We are initiating on the heels of the Company's recently conducted IPO that priced on October 12, 2012, with net proceeds being used to fund a portion of an acquisition, repay debt balances, and to accelerate the development of its properties … The Company is currently trading near its proved value, however, there is significant upside associated with the Company as it accelerates its operated vertical and horizontal programs exclusively targeting oil bearing formations, where a majority of the Company's acreage has been de-risked by the Company or offset operator activity."

Diamondback Energy closed at $16.05 on Wednesday.

Latest Ratings for FANG

Apr 2017Stifel NicolausInitiates Coverage OnBuy
Dec 2016Drexel HamiltonInitiates Coverage OnHold
Oct 2016Stephens & Co.UpgradesEqual-WeightOverweight

View More Analyst Ratings for FANG
View the Latest Analyst Ratings

Posted-In: CK CooperAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (FANG)

View Comments and Join the Discussion!