Topeka Capital Markets Increases Diamondback Energy Price Target to $70.00 (FANG)
Analysts at Topeka Capital Markets boosted their price target on shares of Diamondback Energy (NASDAQ:FANG) from $64.00 to $70.00 in a research report issued to clients and investors on Friday, Analyst Ratings Net reports. Topeka Capital Markets’ target price points to a potential upside of 23.41% from the stock’s previous close.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 5.49% during mid-day trading on Friday, hitting $56.72. 1,298,611 shares of the company’s stock traded hands. Diamondback Energy has a one year low of $19.57 and a one year high of $59.00. The stock has a 50-day moving average of $50.11 and a 200-day moving average of $46.87. The company has a market cap of $2.670 billion and a price-to-earnings ratio of 69.29.
A number of other firms have also recently commented on FANG. Analysts at Roth Capital raised their price target on shares of Diamondback Energy from $66.00 to $69.00 in a research note to investors on Friday. Separately, analysts at Northland Capital Partners raised their price target on shares of Diamondback Energy from $68.00 to $73.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Johnson Rice initiated coverage on shares of Diamondback Energy in a research note to investors on Thursday. They set an “overweight” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $60.88.
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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