Diamondback Energy (NASDAQ:FANG) Price Target Raised to $216.00

Diamondback Energy (NASDAQ:FANG) had its target price raised by UBS Group from $212.00 to $216.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the oil and natural gas company’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. Truist Financial lifted their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho cut their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Stock Up 0.5 %

Shares of NASDAQ FANG opened at $156.99 on Thursday. The stock has a market cap of $45.84 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.24 and a beta of 1.86. The firm has a 50 day moving average price of $166.15 and a 200 day moving average price of $178.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a 52-week low of $152.00 and a 52-week high of $214.50.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of Diamondback Energy in the third quarter valued at $87,000. Creative Planning increased its holdings in shares of Diamondback Energy by 3.0% in the third quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock valued at $5,929,000 after purchasing an additional 1,004 shares during the last quarter. Swedbank AB increased its holdings in shares of Diamondback Energy by 69.2% in the third quarter. Swedbank AB now owns 154,922 shares of the oil and natural gas company’s stock valued at $26,709,000 after purchasing an additional 63,360 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Diamondback Energy by 5.2% in the third quarter. SeaCrest Wealth Management LLC now owns 2,732 shares of the oil and natural gas company’s stock valued at $471,000 after purchasing an additional 135 shares during the last quarter. Finally, Paragon Capital Management Inc. acquired a new position in shares of Diamondback Energy in the third quarter valued at $666,000. 90.01% of the stock is currently 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.