Diamondback's Prime Permian Acreage Earns a Narrow Moat; Shares Undervalued Again After Pullback
Two weeks ago, Diamondback shares were trading in line with our $132 fair value estimate (raised from $129 after incorporating previously announced tweaks to near-term crude forecasts). But the stock has slid over 12% since then, with no change in fundamentals. We consider this a buying opportunity.In addition, we now believe the company's enviable Permian Basin acreage creates a sustainable cost advantage that justifies a narrow moat rating. It’s no coincidence that in 2017, the top three comp...
Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The company's activities are primarily focused on horizontal development of the Spraberry and Wolfcamp formations of the Midland Basin and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the larger Permian Basin in West Texas and New Mexico.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.