Analysts Set Diamondback Energy, Inc. (NASDAQ:FANG) Target Price at $215.00

Diamondback Energy, Inc. (NASDAQ:FANG) has earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $216.52.

A number of research firms have recently weighed in on FANG. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Diamondback Energy

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

Diamondback Energy Trading Up 2.2 %

NASDAQ:FANG opened at $160.26 on Thursday. Diamondback Energy has a one year low of $152.00 and a one year high of $214.50. The business’s 50-day simple moving average is $165.82 and its 200 day simple moving average is $177.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $46.79 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 1.22 and a beta of 1.86.

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.