Melius Initiates Coverage on Diamondback Energy (FANG), Assigns Buy Rating

Diamondback Energy, Inc. (NASDAQ:FANG) is one of the best dividend stocks to buy. On August 20, Melius Research assigned a Buy rating on FANG, along with a price target of $213.

Diamondback is one of the major Permian Basin pure-play companies, where it directs its streamlined operations toward Wolfcamp, Spraberry, and Bone Spring formations.

Melius observed that the company scaled up through active mergers and acquisitions, positioning itself among the top acreage holders in the Midland Basin.

The firm noted that Diamondback’s lean and flexible low-expense model is a competitive edge. The company concentrates primarily on the Permian Basin, known as one of America’s top oil and gas hubs.

Diamondback Energy, Inc. (NASDAQ:FANG) is a Texas-based oil and gas company that explores and develops reserves in the Permian Basin in West Texas.

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