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Diamondback Energy (NASDAQ:FANG)’s share price reached a new 52-week high during trading hours on Friday, AnalystRatingsNetwork reports. The company traded as high as $59.00 and last traded at $56.40, with a volume of 988,140 shares traded. The stock had previously closed at $53.77.

Several analysts have recently commented on the stock. Analysts at KLR Group raised their price target on shares of Diamondback Energy from $5.00 to $65.00 in a research note to investors on Friday. They now have an “accumulate” rating on the stock. Separately, analysts at Howard Weil raised their price target on shares of Diamondback Energy from $65.00 to $70.00 in a research note to investors on Friday. They now have a “sector outperform” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of Diamondback Energy from $70.00 to $71.00 in a research note to investors on Friday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $60.88.

Diamondback Energy has a 52 week low of $19.57 and a 52 week high of $58.71. The stock has a 50-day moving average of $49.90 and a 200-day moving average of $46.75. The company has a market cap of $2.670 billion and a price-to-earnings ratio of 69.29.

Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.

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