Diamondback Energy Is Prepared To Perform In A Flat-To-Down Market

grandriverDiamondback (NASDAQ:FANG) is in a position of strength in the current market, with uncertain macroeconomic conditions going through CY24. I believe that the oil market will remain flat-to-down during the duration of the year, contingent upon no tail-end exogenous event. Given their operational efficiencies, a focus on bringing current DUC inventories into production, and lighter capital investments for eFY24, I provide FANG shares a BUY recommendation with a price target of $209.46/share at 6x ...