Diamondback Energy, Inc. (NASDAQ:FANG) is one of the 13 Safest Stocks to Invest in Now, supported by hedge fund interest and significant return on equity.
The CEO of Diamondback Energy, Inc. issued a warning on October 1 that if oil prices stay close to $60 per barrel, the growth of U.S. crude production will stagnate. Moreover, growth at lower levels will be challenging due to the scarcity of Tier 1 drilling locations.
While Diamondback Energy, Inc. reduced its 2025 capital investment by $500 million to $3.5 billion, U.S. crude futures were trading at about $61.50. The comments were made the day after Bernstein SoGen Group, after a non-deal roadshow with management, reiterated its Outperform rating and $192 price target on the company.
Furthermore, the investment firm emphasized Diamondback Energy, Inc.’s strong inventory life, disciplined balance sheet, and share repurchases, highlighting its position as the final large-cap single-basin shale producer.
The Permian Basin is home to the Texas-based oil and gas company Diamondback Energy, Inc.. It is one of the Safest Stocks To Buy.
READ NEXT: 11 Best Gold Royalty and Small-Cap Gold Stocks to Invest in Now and 11 Best Coal Stocks to Buy According to Hedge Funds.
