Melius Initiates Coverage on Diamondback Energy (FANG), Assigns Buy Rating

Core Viewpoint - Diamondback Energy, Inc. (NASDAQ:FANG) is highlighted as a strong dividend stock with a Buy rating and a price target of $213 assigned by Melius Research [1][2]. Company Overview - Diamondback Energy is a Texas-based oil and gas company focused on exploring and developing reserves in the Permian Basin, specifically in West Texas [3]. - The company has established itself as a major player in the Midland Basin through active mergers and acquisitions, becoming one of the top acreage holders in the region [2]. Competitive Advantages - The company's lean and flexible low-expense model is noted as a competitive edge, allowing it to operate efficiently within the Permian Basin, which is recognized as a leading oil and gas hub in the United States [2].