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Diamondback Energy’s (NASDAQ:FANG) stock is the top pick in the exploration and production industry for 2024, analysts at financial-services firm Piper Sandler said Wednesday.
“Diamondback’s (FANG) size, scale and asset quality in the Midland Basin, paired with improving productivity and capital efficiency, sets up for an even stronger full-year 2024,” Mark Lear, analyst at Piper Sandler said in a December 20 report.
The Midland Basin is an oil- and gas-producing region in western Texas that is part of the larger Permian Basin, the highest-producing oil field in the United States.
Piper Sandler has a price target on Diamondback (FANG) of $206 a share.
Permian Resources (NYSE:PR), Chord Energy (NASDAQ:CHRD) and EQT (NYSE:EQT) also are on Piper Sandler’s list of best stocks going into 2024.
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