Diamondback Energy, Inc. (FANG) PT Increased at Citigroup on Higher Oil Price Outlook

We recently compiled a list of the 10 Large-Cap Stocks with Insider Buying in 2026. Diamondback Energy, Inc. is among the best stocks with insider buying

TheFly reported on March 29 that Citigroup increased its price target for FANG to $230 from $178 while keeping a Buy rating. The firm revised its projections for the oil exploration and production sector to incorporate anticipated higher oil prices, reflecting updated market assumptions and industry conditions.

Separately, earlier on March 10, Diamondback Energy, Inc. (NASDAQ:FANG) disclosed the pricing of a secondary public offering of 11,000,000 common shares by its largest shareholder, SGF FANG Holdings, LP. The sale is expected to generate approximately $1.9 billion in gross proceeds, none of which will go to FANG. The offering is scheduled to close on March 12, 2026, subject to standard closing conditions.

Diamondback Energy, Inc. (FANG) PT Increased at Citigroup on Higher Oil Price Outlook

Additionally, the selling shareholder granted the underwriters a 30-day option to acquire up to 1,650,000 extra shares to cover over-allotments. Evercore ISI, Citigroup, and J.P. Morgan are serving as joint book-running managers for the transaction. FANG has filed a registration statement with the SEC, including a prospectus, providing detailed information on the offering, the company, and related risks. Investors are advised to review the prospectus and related SEC filings before participating.

Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas company focused on the exploration, development, and production of unconventional resources in the Permian Basin, aiming to deliver sustainable growth and shareholder value.

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