Diamondback Energy (NASDAQ:FANG) Price Target Raised to $227.00

Diamondback Energy (NASDAQ:FANG) had its price objective upped by Morgan Stanley from $220.00 to $227.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. Raymond James lifted their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Piper Sandler decreased their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.52.

Diamondback Energy Trading Down 3.7 %

NASDAQ: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 debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company’s 50-day simple moving average is $165.74 and its 200 day simple moving average is $176.96. The firm has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a PEG ratio of 1.22 and a beta of 1.86.

Institutional Trading of Diamondback Energy

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after buying an additional 149,871 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. Boston Partners boosted its position in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC boosted its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after purchasing an additional 502,916 shares during the period. 90.01% of the stock is currently owned by institutional investors.

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.