UBS Group Forecasts Strong Price Appreciation for Diamondback Energy (NASDAQ:FANG) Stock

Diamondback Energy (NASDAQ:FANG) had its price objective increased by analysts at UBS Group from $212.00 to $216.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s target price would suggest a potential upside of 37.52% from the stock’s current price.

A number of other research firms also recently weighed in on FANG. Mizuho dropped their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. upped their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, KeyCorp cut their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded up $1.61 during midday trading on Thursday, reaching $157.07. The company had a trading volume of 158,843 shares, compared to its average volume of 1,894,490. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $166.67 and a 200 day simple moving average of $178.46. Diamondback Energy has a 1-year low of $152.00 and a 1-year high of $214.50. The company has a market capitalization of $45.86 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FANG. Wintrust Investments LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc boosted its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the period. Finally, Values First Advisors Inc. bought a new position in shares of Diamondback Energy during the third quarter worth about $42,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.