Diamondback Energy (FANG, Financial) has released its operational results for the first quarter, highlighting a robust average production of 475.9 thousand barrels of oil equivalent per day (MBO/d). The company achieved solid pricing for its products, with unhedged realized prices averaging $70.95 per barrel for oil, $23.94 for natural gas liquids, and $2.11 per Mcf for natural gas. When accounting for hedges, realized prices adjusted slightly for oil to $70.06 per barrel and rose for natural gas to $3.34 per Mcf, while remaining the same for natural gas liquids.
In terms of financial performance, Diamondback reported considerable gains from derivatives. The company recorded an $85 million gain from realized hedges, complemented by a $141 million gain from unrealized hedges. Combined, these contributed to a total derivative gain of $226 million for the quarter. The capital expenditures for this period amounted to $942 million, reflecting the company's investment in sustaining and enhancing its operations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 28 analysts, the average target price for Diamondback Energy Inc (FANG, Financial) is $201.22 with a high estimate of $240.00 and a low estimate of $145.00. The average target implies an upside of 54.52% from the current price of $130.22. More detailed estimate data can be found on the Diamondback Energy Inc (FANG) Forecast page.
Based on the consensus recommendation from 31 brokerage firms, Diamondback Energy Inc's (FANG, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Diamondback Energy Inc (FANG, Financial) in one year is $167.55, suggesting a upside of 28.67% from the current price of $130.22. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Diamondback Energy Inc (FANG) Summary page.
