Raymond James Reiterates a Buy on Diamondback Energy (FANG), Keeps the PT

Diamondback Energy, Inc. (NASDAQ:FANG) is one of the Most Undervalued US Stocks According to Wall Street Analysts. On August 20, Raymond James reiterated a Buy rating on Diamondback Energy, Inc. (NASDAQ:FANG) with a price target of $212.

The bullish sentiment by the firm follows the company’s release of fiscal second-quarter results for 2025 on August 4. The company delivered $3.68 billion in revenue during the quarter, reflecting a 48.13% year-over-year increase and topping consensus by $346.93 million. However, the EPS of $2.67 fell short by $0.05. The company produced an average of 495.7 thousand barrels of oil per day and 919.9 thousand barrels of oil equivalent per day. Thereby, generating $1.7 billion in net cash from operating activities and $2.1 billion in operating cash flow before working capital changes.

A pipeline worker overseeing the flow of crude oil into storage tanks from an integrated water system.

Raymond James noted that Diamondback Energy, Inc. (NASDAQ:FANG) updated its guidance, narrowing oil production to 485-492 MBO/d and increasing BOE guidance by 2% to 890-910 MBOE/d. Notably, the company also lowered its cash expenditures to a range of $3.4 billion and $3.6 billion.

Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas company that focuses on acquiring, developing, and exploring unconventional onshore oil and gas reserves in the Permian Basin.

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Disclosure: None. This article is originally published at Insider Monkey.