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Several investment firms have updated their stock ratings and price targets on shares of Diamondback Energy (NASDAQ: FANG) in the last week:

  • Diamondback Energy had its price target raised by analysts at Mizuho from $90.00 to $102.00. They now have a “buy” rating on the stock.
  • Diamondback Energy had its price target raised by analysts at Topeka Capital Markets from $86.00 to $100.00. They now have a “buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • Diamondback Energy had its “buy” rating reaffirmed by analysts at Sterne Agee. They now have a $114.00 price target on the stock, up previously from $93.00.
  • Diamondback Energy had its price target raised by analysts at Northland Securities from $87.00 to $106.00. They now have an “outperform” rating on the stock.
  • Diamondback Energy had its “buy” rating reaffirmed by analysts at SunTrust. They now have a $102.00 price target on the stock, up previously from $89.00.
  • Diamondback Energy had its price target raised by analysts at KLR Group from $5.00 to $103.00.
  • Diamondback Energy is now covered by analysts at Canaccord Genuity. They set a “buy” rating and a $108.00 price target on the stock.
  • Diamondback Energy had its price target raised by analysts at Wunderlich from $85.00 to $110.00. They now have a “buy” rating on the stock. They wrote, “Diamondback Energy (FANG) continues to move forward in the Midland Basin where it has become a premier operator of horizontal wells. Additionally, the company has shown its ability to create and boost the value of its assets through the recent public offering of a portion of its mineral rights in the Permian. “The newly formed vehicle, named Viper Energy Partners (VNOM-NR), was very well received and shows the value of acreage and exposure to the Permian Basin. While the deal makes Diamondback continue to look compelling from a valuation standpoint, it also provides a long-term financing vehicle that Diamondback can use to fund its active drilling program going forward. This causes us to move our price target up again from $85 to $110 as the story continues to move forward.”

Shares of Diamondback Energy Inc (NASDAQ:FANG) traded down 0.67% during mid-day trading on Wednesday, hitting $89.17. The stock had a trading volume of 280,521 shares. Diamondback Energy Inc has a 52-week low of $34.20 and a 52-week high of $93.33. The stock has a 50-day moving average of $80.81 and a 200-day moving average of $65.77. The company has a market cap of $4.529 billion and a price-to-earnings ratio of 56.04.

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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