$FANG

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks were rising late Tuesday afternoon, with the NYSE Energy Sector Index adding 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was decreasing 0.5%, and the Dow Jones US Utilities Index was up 0.1%.Crude oil futures slumped after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force. Hegseth, speaking at a Tuesday morning press conference, said the Iran ceasefire remains in effect while promising to continue to press ahead with opening the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.Front-month West Texas Intermediate crude oil declined 3.5% to $102.69 a barrel, and the global benchmark Brent crude contract dropped 3.8% to $110.11 a barrel. Henry Hub natural gas futures fell 3.5% to $2.77 per 1 million BTU.In corporate news, Shell (SHEL) and Ineos Energy have agreed to jointly invest in oil and gas exploration and development opportunities in the Gulf of Mexico, Ineos Energy said. Shell shares rose 0.5%.Diamondback Energy (FANG) said operators may add 20 to 30 oil rigs in the US Permian Basin this year as elevated crude prices and supply disruptions tied to the Middle East conflict support higher activity. Diamondback shares were down 3.2%.GE Vernova (GEV) and Blue Energy are planning to develop a 2.5 gigawatt power facility in Texas that will combine nuclear and natural gas, the companies said Tuesday. GE Vernova shares added 2%.Enlight Renewable Energy (ENLT) shares climbed 2.8% after it reported higher-than-expected Q1 earnings and revenue.

Truist Securities Raises Diamondback Energy Price Target to $242 From $222

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $225.13, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $208.21, Change: $-5.48, Percent Change: -2.56%

Diamondback Energy Says Permian Drilling Likely to Increase in 2026

Diamondback Energy (FANG) said operators may add 20 to 30 oil rigs in the US Permian Basin this year as elevated crude prices and supply disruptions tied to the Middle East conflict support higher activity."We still have triple-digit oil prices, and the market is still calling for oil to come to market," CEO Matthew Kaes Van't Hof said Tuesday on an earnings conference call. "This is a year where instead of pulling back activity, you keep the efficiencies going and production continuing to climb."Diamondback plans to stay within its original guidance, with its own activity increase of two to three rigs and a fifth completion crew.Van't Hof said Diamondback aims to stay on the low end of the US shale cost curve as signs of declining well quality emerge across parts of the basin.Price: $208.05, Change: $-5.65, Percent Change: -2.64%

Roth Capital Partners Adjusts Price Target on Diamondback Energy to $205 From $200, Maintains Neutral Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $225.13, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $207.64, Change: $-6.05, Percent Change: -2.83%

Barclays Adjusts PT on Diamondback Energy to $225 From $190, Maintains Overweight Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $225.13, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Viper Energy Reports Surge in Q1 Output Amid Sharp Rise in Well Activity

Texas-based Viper Energy (VNOM) reported Monday average output of 130,711 barrels of oil equivalent per day in Q1, more than double from 57,378 boe/d during the same period a year ago.The company turned 655 total gross horizontal wells to production during the quarter, with an average lateral length of 11,583 feet, up from 260 gross wells last year.Of these, 541 wells were operated by third parties, with Viper receiving a relatively modest average royalty interest of 1.2%. Diamondback Energy (FANG) operated 114 wells, with an average royalty yield of 7.5%.For Q2 2026, the company guided total output in the range of 124,000 and 126,000 barrels of oil equivalent per day, and between 126,000 and 130,000 boe per day for the full year.

Diamondback Energy Raises 2026 Production Guidance, Output Rises in Q1

Diamondback Energy (FANG) average oil production for the three months to March 31 was 521,000 barrels per day or 979,400 barrels of oil equivalent per day, compared with 475,944 barrels in the same quarter of 2025 or 850,656 barrels of oil equivalent.The company increased its 2026 oil production guidance to upwards of 520,000 from a previous range of 500,000 to 510,000. On a barrels-of-oil-equivalent basis, it increased guidance to upwards of 972,000 from 926,000-962,000.Diamondback achieved an average of $73.47 per barrel of oil sold in the quarter, it said, up from $70.95 in the first three months of 2025, it said.The company said it is bringing incremental barrels of oil to the market immediately in order to capture currently higher prices in the context of conflict in the Middle East and the prolonged closure of the Strait of Hormuz, it said in a letter to shareholders.The company said in a letter to investors

Research Alert: Fang: A Strong Q1 Eps Beat On Strong Production

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:FANG delivered a strong Q1 EPS beat of $4.23, surpassing consensus by $0.48, driven by production of 979,400 boe/d that rose 15% Y/Y and exceeded Street expectations by 2.7%. Crude oil production of 521,000 b/d topped the high end of guidance despite weather disruptions, achieved with below-midpoint capex of $933M. We think FANG's shift away from a formulaic shareholder return approach is prudent, allowing more flexibility rather than rigid quarterly percentages. The company raised 2026 production guidance to at least 520,000 b/d for crude and 972,000 boe/d total, up from the prior range of 926K-962K boe/d. Free cash flow rose 10% to $1.7B in Q1, though we anticipate a surge in Q2 given WTI's 57% rise since February. FANG returned $548M via buybacks at $167.61/share and raised the dividend 5% to $1.10/share, yielding 2.0%. We believe saving incremental FCF is wise given our expectation that 2027 crude prices may decline after a strong 2026.

Diamondback Energy Q1 Earnings Fall, Revenue Rises; Increases Quarterly Dividend

Diamondback Energy (FANG) reported Q1 earnings late Monday of $0.08 per diluted share, down from $4.83 a year earlier.Analysts polled by FactSet expected $3.53.Revenue for the three months ended March 31 was $4.24 billion, up from $4.05 billion a year earlier.Analysts surveyed by FactSet expected $3.83 billion.The company raised its quarterly base dividend to $1.10 per share, payable May 21 to stockholders of record May 14.

Earnings Flash (FANG) Diamondback Energy Posts Q1 Revenue $4.24B, vs. FactSet Est of $3.84B

Earnings Flash (FANG) Diamondback Energy Posts Q1 Adjusted EPS $4.23, vs. FactSet Est of $3.74

Research Alert: Oil & Gas E&p: Uae Departure From Opec Should Have A Long Fuse

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:The UAE departed OPEC on Friday, removing the cartel's third-biggest member with 3.64 mmb/d crude production, trailing only Iraq (4.50 mmb/d) and Saudi Arabia (10.40 mmb/d). The departure gives the UAE flexibility to boost production beyond current quotas, though it remains constrained by Persian Gulf blockades limiting tanker traffic through the Strait of Hormuz. We think the impact is likely a 2027 event, as the UAE exports 2.75 mmb/d but its Habshan-Fujairah Pipeline only handles 1.5 mmb/d, making incremental volumes dependent on Strait transit. The departure could enhance crude oil volatility for 2026-2027. We think 2026 will see considerable scarcity, benefiting E&Ps with spot exposure over the next two quarters while prices stay high. We see high potential for an oil price debacle in 2027 when more crude reaches markets, coupled with economic toll from nosebleed prices. Even U.S.-centric firms like FANG remain price-takers exposed to global crude pricing.

Morgan Stanley Adjusts Diamondback Energy PT to $224 From $220, Maintains Overweight Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $223.16, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Raymond James Adjusts Diamondback Energy Price Target to $242 From $240, Maintains Strong Buy Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $223.16, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Scotiabank Raises Price Target on Diamondback Energy to $195 From $175, Maintains Sector Outperform Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $222.90, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $190.32, Change: $+0.51, Percent Change: +0.27%

Susquehanna Adjusts Price Target on Diamondback Energy to $231 From $199, Maintains Positive Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $221.41, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Citigroup Adjusts Price Target on Diamondback Energy to $225 From $230, Maintains Buy Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $218.76, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

UBS Lifts Diamondback Energy Price Target to $246 From $245, Maintains Buy Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $217.03, according to analysts polled by FactSet.

JPMorgan Adjusts Price Target on Diamondback Energy to $228 From $225, Maintains Overweight Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $217.03, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Update: Bernstein Adjusts Price Target on Diamondback Energy to $237 From $190, Maintains Outperform Rating

(The price target change is from March 20).Diamondback Energy (FANG) has an average rating of overweight and mean price target of $217.03, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $189.53, Change: $+1.32, Percent Change: +0.70%