Wells Fargo Boosts Diamondback Energy Stock Price Target

Investment bank raises price target on oil and gas company's shares

Mar. 16, 2026 at 2:38pm

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Wells Fargo & Company has increased its price target on shares of Diamondback Energy (NASDAQ:FANG) from $171.00 to $202.00 and maintained an "overweight" rating on the stock. The investment bank cited the oil and natural gas company's strong performance and outlook.

Why it matters

Diamondback Energy is a major player in the Permian Basin, one of the most prolific oil and gas production regions in the United States. A positive forecast from a major investment bank like Wells Fargo could signal increased investor confidence in the company's future prospects.

The details

In a research report, Wells Fargo analysts said the new $202.00 price target represents a potential upside of 10.68% from Diamondback Energy's previous closing stock price. The firm cited the company's strong operational and financial performance as reasons for the increased target.

  • The research report and updated price target were issued on Monday, March 16, 2026.

The players

Wells Fargo & Company

A major American multinational financial services company and one of the largest banks in the United States.

Diamondback Energy

An independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

The takeaway

The positive forecast from Wells Fargo suggests continued confidence in Diamondback Energy's ability to navigate the challenges facing the oil and gas industry and capitalize on opportunities in the Permian Basin.