Diamondback Energy (NASDAQ:FANG) Price Target Raised to $227.00

Diamondback Energy (NASDAQ:FANG) had its price objective hoisted by stock analysts at Morgan Stanley from $220.00 to $227.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 40.05% from the company’s current price.

FANG has been the subject of several other reports. Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. UBS Group increased their target price on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Truist Financial raised their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $216.52.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $162.09 on Wednesday. The firm’s 50-day moving average is $165.74 and its two-hundred day moving average is $177.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $47.33 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.21 and a beta of 1.86. Diamondback Energy has a 12-month low of $152.00 and a 12-month high of $214.50.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors have recently made changes to their positions in FANG. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy in the fourth quarter worth $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy in the 4th quarter worth about $29,000. UMB Bank n.a. raised its stake in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $33,000. Finally, Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.