Diamondback Energy (NASDAQ:FANG) Price Target Raised to $238.00

Diamondback Energy (NASDAQ:FANG) had its price objective hoisted by Truist Financial from $236.00 to $238.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the oil and natural gas company’s stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Mizuho dropped their price target on 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, Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.52.

Diamondback Energy Trading Down 3.7 %

FANG opened at $156.12 on Wednesday. Diamondback Energy has a one year low of $152.00 and a one year high of $214.50. The company has a market cap of $45.59 billion, a P/E ratio of 8.94, a PEG ratio of 1.22 and a beta of 1.86. 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 business’s 50-day simple moving average is $165.74 and its 200-day simple moving average is $176.96.

Institutional Trading of Diamondback Energy

Several hedge funds have recently modified their holdings of FANG. Exchange Traded Concepts LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $87,000. Creative Planning lifted its holdings in shares of Diamondback Energy by 3.0% in the 3rd quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock valued at $5,929,000 after buying an additional 1,004 shares during the period. Blue Trust Inc. lifted its holdings in shares of Diamondback Energy by 25.1% in the 3rd quarter. Blue Trust Inc. now owns 3,068 shares of the oil and natural gas company’s stock valued at $529,000 after buying an additional 616 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Diamondback Energy by 1.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 151,211 shares of the oil and natural gas company’s stock valued at $26,069,000 after buying an additional 2,327 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 13.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,753 shares of the oil and natural gas company’s stock valued at $302,000 after buying an additional 211 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Company Profile

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.