<p>虽然油市可能会有所波动，但这种波动往往浮在表面上——就像水面上的油。在其下方，长期趋势——水中的潮流——正在深处翻滚。</p>
<h3>在这个假期季节，TipRanks 享受 70% 的折扣</h3>
<ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以便做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，最大化您的投资组合潜力</li>
</ul>
<p>目前，碳氢能源的价格正在下行，面临全球供应过剩、库存上升和需求低于预期的压力。结果是：对 2026 年价格下跌的预期。</p>
<p>Piper Sandler 的能源专家 Mark Lear 一直在密切关注这一情况，以预测未来的走势。他阐述了自己的观点，写道：“能源在 2025 财年不会安静地退出，油价最终将跌至四年来的新低……展望 2026 年，我们看到油市的隧道尽头有一线光明，商品交易价格远低于我们对中周期的预期，而天然气在尽管存在周期性风险的情况下，仍然是对长期需求预期的共识看涨。也就是说，对于一个股权表现更多受投资者定位而非估值或其他基本驱动因素影响的群体，我们最终认为短期机会可能偏向于天然气股而非石油，主要是考虑到天然气的回调幅度以及冬季才刚刚开始。”</p>
<p>基于这一立场，Lear 选择了一些能源股票作为明年的 “首选”。我们打开了 TipRanks 平台，探索华尔街对其中三只股票的看法。</p>
<p><strong>Diamondback Energy</strong>（<strong>FANG</strong>）</p>
<p>我们将从北美石油和天然气行业的一家主要参与者 Diamondback Energy 开始。这家公司成立于 2007 年，在德克萨斯州西部的二叠纪盆地拥有广泛的资产，市值超过 420 亿美元。Diamondback 总部位于德克萨斯州米德兰。</p>
<p>查看公司的资产显示，Diamondback 的大部分业务位于德克萨斯州西部的 Wolfcamp、Spraberry 和 Bone Spring 地层。该公司专注于收购、开发和开采非常规的陆上石油和天然气储备。在其活动中广泛使用水平钻探技术。</p>
<p>Diamondback 被称为一家独立的石油和天然气公司，除了水平钻探外，还使用水力压裂等其他方法。Diamondback 是二叠纪盆地中从事碳氢化合物开发的领先企业之一。</p>
<p>Diamondback 的运营产生了可观的收入和利润。在最近报告的第三季度（3Q25），该公司的收入为 39.2 亿美元。这一数字比去年同期增长了 48%，超出预期 394.3 百万美元。在底线方面，Diamondback 的非 GAAP 每股收益为 3.08 美元，比预期高出 14 美分。</p>
<p>该公司于 11 月 20 日支付了每股 1 美元的股息。每普通股年化股息为 4 美元，前瞻收益率为 2.7%。除了股息政策外，Diamondback 还有积极的股票回购政策。本月早些时候，它宣布已与其最大股东 SGF FANG Holdings 达成协议，回购最多 300 万股股票。该协议预计将对未来的股价产生支持。</p>
<p>对于 Piper Sandler 的 Mark Lear 来说，重要的一点是 Diamondback 的强大地位和持续盈利的明确路径。他写道：“FANG 是我们认为的顶级大型 E&amp;P 公司，因为它在二叠纪的低成本运营商地位、长期低盈亏平衡项目的潜力、一致的执行力以及进一步提高效率的前景。尽管公司早已转向全面开发，但它始终交付最强的资产水平表现，同时我们看到该公司在其石油和天然气同行中驱动最低的再投资率，展示了其资产基础的低成本特性。与 Stephens 家族的最近回购协议消除了二次发行对股票的压力。”</p>
<p>这些评论支持了 Lear 对该股票的超配（买入）评级，而他的 219 美元目标价指向未来一年的 50% 上涨空间。（要查看 Lear 的业绩记录，请点击这里。）</p>
<p>该股票的强买共识评级基于 21 份近期分析师评估，其中包括 20 个买入和 1 个持有。该股票的价格为 146.31 美元，其 179.65 美元的平均目标价意味着在一年内约有 23% 的涨幅。（见 <strong>FANG 股票预测</strong>）</p>

Diamondback能源

<p>Piper Sandler 的 Mark Lear 将 Diamondback 能源视为 2026 年的顶级能源股票推荐，指出其在二叠纪盆地的强大地位、低成本运营和稳定的业绩。Lear 的增持评级暗示有 50% 的上涨潜力，目标价为 219 美元。该股票获得分析师的强烈买入共识，目前价格为 146.31 美元，平均目标价为 179.65 美元，表明约 23% 的潜在收益</p>

<p>While the oil market can vary, much of that volatility tends to float on the surface – like oil on water. Underneath it, long-term trends – the currents in the water – are churning in the depths.</p>
<div class="lb-trans"><p>虽然油市可能会有所波动，但这种波动往往浮在表面上——就像水面上的油。在其下方，长期趋势——水中的潮流——正在深处翻滚。</p>
</div><h3>Claim 70% Off TipRanks This Holiday Season</h3>
<div class="lb-trans"><h3>在这个假期季节，TipRanks 享受 70% 的折扣</h3>
</div><ul>
<li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以便做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，最大化您的投资组合潜力</li>
</ul>
</div><p>Prices for hydrocarbon energy sources are tending downwards right now, facing pressures from a glut in global supplies, rising inventories, and lower-than-expected demand. The result: expectations of lower prices in 2026.</p>
<div class="lb-trans"><p>目前，碳氢能源的价格正在下行，面临全球供应过剩、库存上升和需求低于预期的压力。结果是：对 2026 年价格下跌的预期。</p>
</div><p>Mark Lear, energy expert from Piper Sandler, has been watching the situation carefully in an effort to predict what's coming down the pike. Laying out his position, Lear writes, &#34;Energy isn't going out quietly in FY25 with oil finally breaking down to fresh four-year lows… Looking to FY26, we see a light at the end of the tunnel for oil with the commodity trading well below our view on mid-cycle, where gas has been more of a consensus long on secular demand expectations despite cyclical risks and a strip that was recently well above our view of mid-cycle. That said, for a group where equity performance has been more dictated by investor positioning than valuation or other fundamental drivers, we ultimately think the near-term opportunity is likely skewed in the favor of gas equity vs. oil, mainly given the magnitude of the gas pullback and the fact that winter has barely begun.&#34;</p>
<div class="lb-trans"><p>Piper Sandler 的能源专家 Mark Lear 一直在密切关注这一情况，以预测未来的走势。他阐述了自己的观点，写道：“能源在 2025 财年不会安静地退出，油价最终将跌至四年来的新低……展望 2026 年，我们看到油市的隧道尽头有一线光明，商品交易价格远低于我们对中周期的预期，而天然气在尽管存在周期性风险的情况下，仍然是对长期需求预期的共识看涨。也就是说，对于一个股权表现更多受投资者定位而非估值或其他基本驱动因素影响的群体，我们最终认为短期机会可能偏向于天然气股而非石油，主要是考虑到天然气的回调幅度以及冬季才刚刚开始。”</p>
</div><p>Following from this stance, Lear has chosen a few energy stocks as 'top picks' for the coming year. We've opened up the TipRanks platform to explore how Wall Street is viewing three of them.</p>
<div class="lb-trans"><p>基于这一立场，Lear 选择了一些能源股票作为明年的 “首选”。我们打开了 TipRanks 平台，探索华尔街对其中三只股票的看法。</p>
</div><p><strong>Diamondback Energy</strong>( <strong>FANG</strong>)</p>
<div class="lb-trans"><p><strong>Diamondback Energy</strong>（<strong>FANG</strong>）</p>
</div><p>We'll start with a major player in the North American oil and gas industry, Diamondback Energy. This company, founded in 2007, has extensive holdings in the West Texas Permian Basin and boasts a $42 billion-plus market cap. Diamondback is based in Midland, Texas.</p>
<div class="lb-trans"><p>我们将从北美石油和天然气行业的一家主要参与者 Diamondback Energy 开始。这家公司成立于 2007 年，在德克萨斯州西部的二叠纪盆地拥有广泛的资产，市值超过 420 亿美元。Diamondback 总部位于德克萨斯州米德兰。</p>
</div><p>A look at the company's holdings shows that most of Diamondback's operations are located in the Wolfcamp, Spraberry, and Bone Spring formations in the Permian Basin of West Texas. The company focuses on acquiring, developing, and exploiting unconventional, onshore oil and natural gas reserves. It makes extensive use of horizontal drilling technology in its activities.</p>
<div class="lb-trans"><p>查看公司的资产显示，Diamondback 的大部分业务位于德克萨斯州西部的 Wolfcamp、Spraberry 和 Bone Spring 地层。该公司专注于收购、开发和开采非常规的陆上石油和天然气储备。在其活动中广泛使用水平钻探技术。</p>
</div><p>Diamondback is known as an independent oil and natural gas company, and in addition to horizontal drilling, it also uses hydraulic fracturing, among other methods. Diamondback is one of the leading players working in the hydrocarbon-rich Permian Basin.</p>
<div class="lb-trans"><p>Diamondback 被称为一家独立的石油和天然气公司，除了水平钻探外，还使用水力压裂等其他方法。Diamondback 是二叠纪盆地中从事碳氢化合物开发的领先企业之一。</p>
</div><p>Diamondback's operations generate significant revenue and earnings. In the last reported quarter, 3Q25, the company had a top line of $3.92 billion. This figure was up an impressive 48% from the prior-year period, and it beat estimates by $394.3 million. At its bottom line, Diamondback's non-GAAP EPS of $3.08 was 14 cents per share better than expected.</p>
<div class="lb-trans"><p>Diamondback 的运营产生了可观的收入和利润。在最近报告的第三季度（3Q25），该公司的收入为 39.2 亿美元。这一数字比去年同期增长了 48%，超出预期 394.3 百万美元。在底线方面，Diamondback 的非 GAAP 每股收益为 3.08 美元，比预期高出 14 美分。</p>
</div><p>The company paid a $1 per share dividend on November 20. The annualized rate of $4 per common share gives a forward yield of 2.7%. In addition to its dividend policy, Diamondback has an active share repurchase policy. Earlier this month, it announced that it had entered into an agreement with its largest shareholder, SGF FANG Holdings, for the repurchase of up to 3 million shares. The agreement is expected to be supportive of the share price going forward.</p>
<div class="lb-trans"><p>该公司于 11 月 20 日支付了每股 1 美元的股息。每普通股年化股息为 4 美元，前瞻收益率为 2.7%。除了股息政策外，Diamondback 还有积极的股票回购政策。本月早些时候，它宣布已与其最大股东 SGF FANG Holdings 达成协议，回购最多 300 万股股票。该协议预计将对未来的股价产生支持。</p>
</div><p>For Piper Sandler's Mark Lear, the important point here is Diamondback's strong position and clear path to continued profits. He writes, &#34;FANG is our top large cap E&amp;P given its position as the low-cost operator in the Permian, long runway of low breakeven projects, consistent execution and line of sight on further efficiency improvements. The company has consistently delivered the strongest asset level performance despite having long ago shifted to full stack development, while we see the company driving the lowest strip reinvestment rate of its oil &amp; gas peers demonstrating the low-cost nature of its asset base. The recent repurchase agreement with the Stephens family removes the risk of a secondary offering weighing on the stock.&#34;</p>
<div class="lb-trans"><p>对于 Piper Sandler 的 Mark Lear 来说，重要的一点是 Diamondback 的强大地位和持续盈利的明确路径。他写道：“FANG 是我们认为的顶级大型 E&amp;P 公司，因为它在二叠纪的低成本运营商地位、长期低盈亏平衡项目的潜力、一致的执行力以及进一步提高效率的前景。尽管公司早已转向全面开发，但它始终交付最强的资产水平表现，同时我们看到该公司在其石油和天然气同行中驱动最低的再投资率，展示了其资产基础的低成本特性。与 Stephens 家族的最近回购协议消除了二次发行对股票的压力。”</p>
</div><p>These comments back up Lear's Overweight (Buy) rating on the stock, while his $219 price target points toward a 50% upside in the coming year. (To watch Lear's track record, click here.)</p>
<div class="lb-trans"><p>这些评论支持了 Lear 对该股票的超配（买入）评级，而他的 219 美元目标价指向未来一年的 50% 上涨空间。（要查看 Lear 的业绩记录，请点击这里。）</p>
</div><p>This stock's Strong Buy consensus rating is based on 21 recent analyst reviews, that include 20 Buys and 1 Hold. The stock is priced at $146.31 and its $179.65 average target price implies a ~23% gain on the one-year horizon. (See <strong>FANG stock forecast</strong>)</p>
<div class="lb-trans"><p>该股票的强买共识评级基于 21 份近期分析师评估，其中包括 20 个买入和 1 个持有。该股票的价格为 146.31 美元，其 179.65 美元的平均目标价意味着在一年内约有 23% 的涨幅。（见 <strong>FANG 股票预测</strong>）</p>
</div>

派杰证券称，这三只能源股票是 2026 年的首选