Citi resumes Diamondback Energy coverage with 'neutral'

Citi Trends

14/10/2024 14:52

** Shares of Diamondback Energy  FANG.O  down 1.7% at
$191.66 in early trading in larger lower oil price environment
 O/R 
    ** Citi resumes coverage with "neutral", PT $195
    ** "winning formula for investing in E&Ps over the long run
has been to focus on companies holding the best inventory of
acreage, delivering volumes at the lowest cost, and executing a
sound capital deployment strategy. FANG checks all these boxes"
- Citi
    ** "With Citi Commodities seeing risk that WTI falls in 2025
and FANG needing to de-lever post-closing of the Endeavor
acquisition, we await a better entry point for FANG"
    ** Including session losses, FANG shares up 23.6% YTD
    

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com))