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

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been assigned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $215.17.

FANG has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Mizuho dropped their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Advocates Investment Management boosted its position in shares of Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Greenup Street Wealth Management LLC boosted its holdings in shares of Diamondback Energy by 3.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after purchasing an additional 60 shares during the last quarter. Lakewood Asset Management LLC grew its position in Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after acquiring an additional 60 shares during the period. West Family Investments Inc. grew its holdings in shares of Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after purchasing an additional 61 shares during the period. Finally, Magnolia Capital Advisors LLC grew its stake in Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.5 %

Shares of NASDAQ:FANG opened at $156.99 on Thursday. Diamondback Energy has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $166.15 and its 200-day simple moving average is $178.01. The company has a market cap of $45.84 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86.

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.