Diamondback Energy (FANG) Upgraded at Roth Capital. Here is Why

With an annual dividend yield of 2.27%, Diamondback Energy, Inc. (NASDAQ:FANG) is included among the 12 Best NASDAQ Stocks to Buy for Dividends.

Diamondback Energy, Inc. (NASDAQ:FANG) 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.

On June 22, Roth Capital upgraded Diamondback Energy, Inc. (NASDAQ:FANG) from 'Neutral' to 'Buy', while also boosting its price objective on the stock from $205 to $212. The revised target represents an upside of over 15% from the current share price.

The analyst firm upgraded several exploration and production companies, arguing that crude oil prices are nearing a short-term bottom with a potential Middle East war ceasefire "seeming tenuous". Roth noted that many oil-focused E&P companies have seen their share prices fall b 15%-25% from their YTD peaks, creating more attractive entry points for investors.

The firm expects the damage to key Middle East oil infrastructure to have a lasting impact and anticipates more oil volumes to flow through the waterway of Hormuz, but it believes that the

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/diamondback-energy-fang-upgraded-roth-040817163.html)