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Sohini Mondal

Diamondback Energy Stock: Is Wall Street Bullish or Bearish?

Diamondback Energy Diamondback FANG

With a market cap of $42.3 billion, Diamondback Energy, Inc. (FANG) is an independent oil and gas company focused on the acquisition, development, and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company targets the prolific Spraberry, Wolfcamp, and Bone Spring formations across the Midland and Delaware basins.

Shares of Diamondback Energy have underperformed the broader market over the past 52 weeks. FANG stock has declined 28.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 11.1%. Moreover, shares of FANG are down 14.6% on a YTD basis, compared to SPX's marginal gain.

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